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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.
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