Trading Edges That Last
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As Featured In
EURUSD Jun 08 to Jun 12 Outlook
Lawrence’s Comment
Y-0 acted as support early in the week started a strong 1-2-3 buy with Y+3 target. That in turn started a reverse waterfall effect on daily squeezing the shorts upto the breakdown crime scene at 1.14 / Y+5. Closed the week near Y+2 and midpoint.
Outlook
The run up is purely reactional and has no long term implication because it ended with a close near midpoint. Above 1.12 / Y+3 is now confirmed strong resistance until proven otherwise. Most important of all, daily downtrend is not affect by the actions from last week.
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