Recap Flushed down to Y-2 and found support. Gapped higher to test Y-1 and stalled. Swinged around Y-1 while waiting for NFP. NFP Friday open held the open gap below and forced a run back up to Y-0 and above. Closed the week above Y-0 and near week high.
Outlook Reversal setup in place on intraday timeframes. Daily down trend broken. Until a new trend is formed it will be difficult to trade in coming weeks. Strong resistance at 1960s with support down at Y-1 / B-0. External factors will play an important role here in deciding the next swing level direction.
Lawrence's Comment
Recap
Euro shot higher as expected to the target zone after going sideway earlier in the week. Closed above Y+1 and midpoint.
Outlook
Euro finally entered its longer term reisstance zone and ...
S&P 500 Oct 05 to Oct 09 Outlook
Lawrence’s Comment
Flushed down to Y-2 and found support. Gapped higher to test Y-1 and stalled. Swinged around Y-1 while waiting for NFP. NFP Friday open held the open gap below and forced a run back up to Y-0 and above. Closed the week above Y-0 and near week high.
Outlook
Reversal setup in place on intraday timeframes. Daily down trend broken. Until a new trend is formed it will be difficult to trade in coming weeks. Strong resistance at 1960s with support down at Y-1 / B-0. External factors will play an important role here in deciding the next swing level direction.
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