Recap Wild swing all week. Y+1 FBO gave us a drop to Y-0. Y-0 support gave us the perfect excuse to run this up to 1.14 target. Y+2 resistance sent euro back down below Y+1. Closed the week above Y-0 and below midpoint.
Outlook Strong reaction at 1.14 confirms rejection. As long as Y+1 acting as resistance a drop back down to Y-1 is likely.
Lawrence's Comment
Recap
As explained last week, do not confuse volatility as strength. Y-0 breached quickly led to Y-1 test in play. Y-0 turned into resistance since. Y-1 could not even stop ...
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
EURUSD Sep 21 to Sep 25 Outlook
Lawrence’s Comment
Wild swing all week. Y+1 FBO gave us a drop to Y-0. Y-0 support gave us the perfect excuse to run this up to 1.14 target. Y+2 resistance sent euro back down below Y+1. Closed the week above Y-0 and below midpoint.
Outlook
Strong reaction at 1.14 confirms rejection. As long as Y+1 acting as resistance a drop back down to Y-1 is likely.
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