Recap Opened above Y+1. No FBO as Euro stayed above Y+1 all the way til its breakout move to Y+4. Consolidated since. Closed the week above Y+3 and midpoint.
Outlook Unusual breakout move last week made it difficult to project the direction this week. Notice that it was not a strong move going higher. Euro essentially jumped from Y+1 to Y+3 and finally stopped at Y+4.
A pullback is normal with target below B-0. From there if Y+2 to B-0 zone acting as support, a retest of B+1 likely.
Lawrence's Comment
Recap
Rallied to target zone 1350 and stalled. Closed the week at midpoint.
Outlook
Out of the 3 major indices, S&P is the weakest.
Breaking below B-1 points to a test ...
Lawrence's Comment
Recap
B-0 quickly turned into support and sent euro up above Y+1. 100% absolute range expansion stopped the move. Closed the week above Y+1 and near week high.
Outlook
Euro ...
EURUSD Sep 23 to Sep 27 Outlook
Lawrence’s Comment
Opened above Y+1. No FBO as Euro stayed above Y+1 all the way til its breakout move to Y+4. Consolidated since. Closed the week above Y+3 and midpoint.
Outlook
Unusual breakout move last week made it difficult to project the direction this week. Notice that it was not a strong move going higher. Euro essentially jumped from Y+1 to Y+3 and finally stopped at Y+4.
A pullback is normal with target below B-0. From there if Y+2 to B-0 zone acting as support, a retest of B+1 likely.
Share