Recap Euro tried to hold Y-1 but failed to clear 1.13 and eventually failed to hold above 1.12. Tight range consolidation. Closed the week near Y-1 and below midpoint.
Outlook Long term resistance 1.12 and above now confirmed resistance again after the violent FBO 2 weeks ago. B-0 / B+1 zone resistance points to continuation play with B-3 and below target.
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
No test of either extreme in the beginning of the week, so the consolidation play of drifting around Y-0 kicked in. Then Fed chair Mrs Yellen changed the game. ...
EURUSD Sep 07 to Sep 11 Outlook
Lawrence’s Comment
Euro tried to hold Y-1 but failed to clear 1.13 and eventually failed to hold above 1.12. Tight range consolidation. Closed the week near Y-1 and below midpoint.
Outlook
Long term resistance 1.12 and above now confirmed resistance again after the violent FBO 2 weeks ago. B-0 / B+1 zone resistance points to continuation play with B-3 and below target.
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