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.
Jan 10, 2016 Special Update on S&P and Euro. Last special update in December gave us a great selloff into last week. Now that custom market breadth ...
Lawrence's Comment
Recap
Dow could not hold above Y-1 leading to continuation sell down to below Y-2. Formed double bottom and zoomed higher back up to above Y-1 and initiated a squeeze ...
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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