1-2-3 buy on 4-hour right off the start and run towards the 50% upside weekly expansion before the pair stalled. Euro then held up nicely at its week low and produced a even bigger 1-2-3 buy and tagged our resistance area (yellow zone) at the end of the week.
Next Week Outlook
Last week close is also the close of last year/quarter/month. It will be the most important price level for the coming month.
If previous week close acts as resistance, first stop for euro is 1.324 (red zone).
If previous week close acts as support, first stop is 1.36 (green zone).
Lawrence's Comment
Recap
Cable took out Y+2 as expected and stalled at 100% absolute range expansion. 1-2-3 sell on 4 hour sent cable back to where it started. Closed the week below ...
Lawrence's Comment
Recap
As explained last week in S&P weekly comment, this week is supposed to be weak at least in the beginning of the week. That happened and NQ dropped with ...
Lawrence's Comment
Recap
Y+1 rejected with a clean drop below Y-1. End of week shock from BOJ stopped the downward move somehow without expanding to Y-2. Closed the week near Y-1 and ...
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
Lawrence's Comment
Recap
As noted last week, a pullback was due. It happened in the first 2 days in the week. But Y-0 was tested and acted as support, so ...
EURUSD Jan 3rd to Jan 7th Outlook
Recap of Last Week
1-2-3 buy on 4-hour right off the start and run towards the 50% upside weekly expansion before the pair stalled. Euro then held up nicely at its week low and produced a even bigger 1-2-3 buy and tagged our resistance area (yellow zone) at the end of the week.
Next Week Outlook
Last week close is also the close of last year/quarter/month. It will be the most important price level for the coming month.
If previous week close acts as resistance, first stop for euro is 1.324 (red zone).
If previous week close acts as support, first stop is 1.36 (green zone).
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