Trading Edges That Last
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EURUSD May 02 to May 06 Outlook
Lawrence’s Comment
As expected, more upside this week. Held up well in the support zone mentioned last week. Range expansion to Y+2 and stopped there.
Outlook
As long as B-0 acts as support, B+1 will be retested. In order for this pair to change its trend, we need to get a weekly confirmed selloff which close below the prior week midpoint. That means, for this week, unless we see euro closing below Y+1 to B-0, the rally is likely going to continue.
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