Trading Edges That Last
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EURUSD Dec 02 to Dec 06 Outlook
Lawrence’s Comment
Mentioned hands off this pair last week. It was a good decision. Euro managed to hold Y-0 and pushed higher since. Not only did it managed to clear Y+1, it also bounced off Y+1 as support to push higher again until end of week sellers stopped the move. Closed the week near Y+1 and above midpoint.
Outlook
Euro has met its sellers at B+1. As long as euro cannot push above B+2 this week, a swing top will likely form. Once euro trading below B-0 and stays below, it will be forced to go back down to at least B-2.
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