Recap Y-0 acting as support, rallied to Y+1 as expected. Without any significant selloff formation pulled back to slightly higher than Y-0 and took off again, this implied Y+2 was the target and it was tagged by end of the week.
Outlook No signs of weaknesses yet. Weekly range expanded. More upside is likely. The hard part is to find a lower risk entry. Drifting back to B-0 with B-0 acting as support points to a retest of B+1. Fast drop back to B-0 means consolidation for the coming week.
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
Lawrence's Comment
Recap
Y-1 failed to support the pair so it slided to Y-2. Bounced back to Y-1 and stalled from there since. Closed the week below Y-1.
Outlook
B-1 retest is ...
EURUSD Mar 07 to Mar 11 Outlook
Lawrence’s Comment
Y-0 acting as support, rallied to Y+1 as expected. Without any significant selloff formation pulled back to slightly higher than Y-0 and took off again, this implied Y+2 was the target and it was tagged by end of the week.
Outlook
No signs of weaknesses yet. Weekly range expanded. More upside is likely. The hard part is to find a lower risk entry. Drifting back to B-0 with B-0 acting as support points to a retest of B+1. Fast drop back to B-0 means consolidation for the coming week.
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