Recap Euro bounced higher from Y-1 but failed to clear Y-0 the strong resistance zone. That opened the door to a flush down to Y-3. Euro reacted to the 1.27 round number but it was capped by Y-2. Closed the week below Y-2 and at week low.
Outlook As mentioned last week, euro was hanging on a thread and a flush is likely unless it could clear Y-0. Well, that did not happen. Euro has not shown us clear signs of exhaustion to the down side yet but a short term swing low is due.
Euro being able to hold 1.26 early in the week will give us a run back up to at least B-0 and likely Y-1.
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
It is reported that in China, many banks and luxury boutiques in major cities are running out of physical gold as retail customers are rushing in to buy physical gold ...
Lawrence's Comment
Recap
Early in the week trying to rally from Y-0 to Y+1 failed. Flushed down to Y-1 instead. FBO against Y-1 gave us the 2nd scenario from last week and ...
EURUSD Sep 29 to Oct 03 Outlook
Lawrence’s Comment
Euro bounced higher from Y-1 but failed to clear Y-0 the strong resistance zone. That opened the door to a flush down to Y-3. Euro reacted to the 1.27 round number but it was capped by Y-2. Closed the week below Y-2 and at week low.
Outlook
As mentioned last week, euro was hanging on a thread and a flush is likely unless it could clear Y-0. Well, that did not happen. Euro has not shown us clear signs of exhaustion to the down side yet but a short term swing low is due.
Euro being able to hold 1.26 early in the week will give us a run back up to at least B-0 and likely Y-1.
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