Recap Euro drifted lower and consolidated around Y-1. As euro dropped lower, European officials came out b.s. all the way to keep the currency stable again. Closed the week at Y-1 and above midpoint.
Outlook If a bottom is found, euro should pop higher to B+1 and that B-0 will act as support on pullback. That points to a run back up to B+2.
As long as B-0 to B+1 acting as resistance, more down side is expected.
EURUSD Sep 09 to Sep 13 Outlook
Lawrence’s Comment
Euro drifted lower and consolidated around Y-1. As euro dropped lower, European officials came out b.s. all the way to keep the currency stable again. Closed the week at Y-1 and above midpoint.
Outlook
If a bottom is found, euro should pop higher to B+1 and that B-0 will act as support on pullback. That points to a run back up to B+2.
As long as B-0 to B+1 acting as resistance, more down side is expected.
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