Recap Y-1 tagged early in the week as expected. The sharp reversal scenario happened to Cable instead of Euro. Nonetheless, Euro closed at the high of the week tagging Y+1.
Outlook Less bullish comparing to Cable, euro will have to prove itself first by breaking above Y+1 to break its downtrend.
A pullback to B-0 is likely and it will be wait and see scenario there.
Lawrence's Comment
Recap
Y+1 acted as resistance and sent the pair back down to Y-1 as expected. Closed the week near week low and Y-1.
Outlook
Short term top in place meaning ...
Lawrence's Comment
Recap
Consolidation play initially with both Y-1 and Y+1 tested. Breakout play was clean and gave us Y-3 in 1 go. then the weekly range was over extended (as I ...
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EURUSD May 30 to Jun 03 Outlook
Lawrence’s Comment
Y-1 tagged early in the week as expected. The sharp reversal scenario happened to Cable instead of Euro. Nonetheless, Euro closed at the high of the week tagging Y+1.
Outlook
Less bullish comparing to Cable, euro will have to prove itself first by breaking above Y+1 to break its downtrend.
A pullback to B-0 is likely and it will be wait and see scenario there.
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