Trading Edges That Last
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EURUSD Aug 01 to Aug 05 Outlook
Lawrence’s Comment
FOMC announcement decided the fade of Euro by defending PWC and led to an all out short squeeze. Surprise swing points to Y+3 in play. Closed the week above Y+2 and near week high.
Outlook
Just like last few times even though we know ultimately euro will be going down, the short side is just way too crowded. So Euro will bid its time and form another swing top again in a few weeks before resuming its down trend on monthly.
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