EURUSD Sep 08 to Sep 12 Outlook

By News Robot

Lawrence’s Comment

Recap
Consolidation expected and euro stayed that way until ECB’s surprise rate cut. Since then it was one big flush until 200% expansion level is reached. Closed the week near Y-5 and below midpoint.

Outlook
Initial reaction to the rate cut was that people were (and still are) too bullish on euro. Hence the stop run. A proper bottom has to be formed before a bounce is possible. A 4 hour double bottom will be able to send euro back up to B-0.

Consolidation more likely around previous week close.

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