Recap Euro held the close from the week before last and drifted up slowly. It cleared Y-0 and tried to zoom higher. Then the news shock came and sent it all the way back down to week low. Still refused to go lower, Euro rallied back up to week high again. Closed the week above midpoint and Y-0.
Outlook Inside week with Y-0 and B-0 near each other. Clearly compression in progress. Breakout play in the making. Since euro was trending down, it favours a push down to Y-1 first. A break of Y-1 points to B-2 and below quickly. Holding Y-1 can lead to potential whiplash move back to Y+1.
Lawrence's Comment
Recap
Y-1 test confirmed support. Bounced back up but failed to clear Monday high. Closed the week below Y-0 and midpoint.
Outlook
Tight range consolidation. Ledge is formed. Continuation of ...
Lawrence's Comment
Recap
ES cleared Y+1 boundary giving us a breakout up to almost Y+2. Reversed below and flushed back down to Y-0. Struggled to find a bottom since. Closed the week ...
EURUSD May 27 to May 31 Outlook
Lawrence’s Comment
Euro held the close from the week before last and drifted up slowly. It cleared Y-0 and tried to zoom higher. Then the news shock came and sent it all the way back down to week low. Still refused to go lower, Euro rallied back up to week high again. Closed the week above midpoint and Y-0.
Outlook
Inside week with Y-0 and B-0 near each other. Clearly compression in progress. Breakout play in the making. Since euro was trending down, it favours a push down to Y-1 first. A break of Y-1 points to B-2 and below quickly. Holding Y-1 can lead to potential whiplash move back to Y+1.
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