Recap Euro traded above Y-0, yet failed to hold above it leading to a flush straight down to Y-2 target. Closed the week below Y-1 and midpoint.
Outlook The drop in euro is affected by both ECB jawboning and BOJ action. It is lack of volume that dropped euro lower. If Euro can hold B-1 next week a run back up to above B-0 is likely.
Lawrence's Comment
Recap
No weaknesses at all. Just consolidate around Y-0 and held Y-1 support without even touching it. That was the sign of strength. Rally and breakout above Y+1 late in ...
EURUSD Nov 03 to Nov 07 Outlook
Lawrence’s Comment
Euro traded above Y-0, yet failed to hold above it leading to a flush straight down to Y-2 target. Closed the week below Y-1 and midpoint.
Outlook
The drop in euro is affected by both ECB jawboning and BOJ action. It is lack of volume that dropped euro lower. If Euro can hold B-1 next week a run back up to above B-0 is likely.
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