Recap Bear flag continuation selloff as expected and tagged our downside target. Yet, Y-1 failed to hold the pair down leading to a bounce back upto B-0.
Outlook A zoom up above B+1 with B+1 acting as support we get spike low reversal pointing to B+3.
Normally, however, B+1 will act as resistance and force a retest of B-0 downto Y-1 to confirm the potential reversal first.
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Lawrence's Comment
Recap
Congestion between B-1 to B+1 most of the week. Then total collapse once the week low is taken out the last moment of the week. Obvious stop ...
EURUSD Nov 14 to Nov 18 Outlook
Lawrence’s Comment
Bear flag continuation selloff as expected and tagged our downside target. Yet, Y-1 failed to hold the pair down leading to a bounce back upto B-0.
Outlook
A zoom up above B+1 with B+1 acting as support we get spike low reversal pointing to B+3.
Normally, however, B+1 will act as resistance and force a retest of B-0 downto Y-1 to confirm the potential reversal first.
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