Recap Comparing to GBP, euro had a more difficult selloff. It took better half of the week to make an attempt to test Y-1 and finally sold off to almost Y-2.
Outlook Euro is resisting the selloff. Trend buy players are stepping in to support 1.42, 1.41, and 1.40 levels. Thus the price movement this week will likely be a mess. Would prefer to wait for the moving average crowds to finish their fights here first. As long as Y-1 to B+1 acts as resistance, the down trend on 4 hours is intact.
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Lawrence's Comment
Recap
As explained last week, weekly up trend intact and that is good enough reason to send Dow back up to fill the open gap above. Gap fill led to ...
Lawrence's Comment
Recap
Y-0 acted as resistance and gave us a drop back down to previous week close which turned into very strong support on 3 separate attempts to break it from ...
Lawrence's Comment
Recap
Once the Y+1 breakout happened, we can already tell Y+2 was the target because that is the upper boundary of the tight range defined over past few ...
EURUSD May 16 to May 20 Outlook
Comparing to GBP, euro had a more difficult selloff. It took better half of the week to make an attempt to test Y-1 and finally sold off to almost Y-2.
Outlook
Euro is resisting the selloff. Trend buy players are stepping in to support 1.42, 1.41, and 1.40 levels. Thus the price movement this week will likely be a mess. Would prefer to wait for the moving average crowds to finish their fights here first.
As long as Y-1 to B+1 acts as resistance, the down trend on 4 hours is intact.
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