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.
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
Lawrence's Comment
Recap
Previous week close resistance dropped ninja back down to Y-0. Attempt to hold above 120 failed and led to further pullback down to below 119. Closed the week near ...
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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