Recap 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.
Lawrence's Comment
Recap
Monday price shock failed to force ninja down to Y-2. FBO against Y-1 lead to Y-0 test. Y-0 acted as resistance and sent ninja back down to Y-1. Closed ...
Lawrence's Comment
Recap
Pullback as expected but not the consolidation type. First move back down to Y-0 pierced thru decisively triggered the Y-1 target. Eventually price moved near Y-1 and bounced. Closed ...
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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