Recap More squeeze on the shorts again as euro zone feeding out more b.s. repeatedly over the week. Yet euro can only tag Y+2 and stalled. Last minute news shock on Friday sent euro to close above Y+2.
Outlook The rally of euro is built on short squeeze. There is no reliable support to go long from on a pullback until B-1 area is tested.
Classic news driven squeeze can reach 200% target. That means Y+3 should be the cap for the move and tagging that early next week points to a pullback to B-0 likely.
Lawrence's Comment
Recap
Y-0 failed to hold NQ down, gave it the perfect excuse to squeeze back up to Y+1. NQ was able to hold above Y+1 and consolidated there. Closed the ...
Lawrence's Comment
Recap
Similar to Dow, NQ found support at Y-0 and started another leg higher until Y+2 was tagged. Following the exact same pattern as Dow, NQ pullback to Y+1 to ...
Lawrence's Comment
Recap
Breached Y-1 in the beginning of the week but did not stay below. Bounced to Y-0 and stopped there as usual. Sold back down to Y-1. Closed the week ...
EURUSD Jan 30 to Feb 03 Outlook
Lawrence’s Comment
More squeeze on the shorts again as euro zone feeding out more b.s. repeatedly over the week. Yet euro can only tag Y+2 and stalled. Last minute news shock on Friday sent euro to close above Y+2.
Outlook
The rally of euro is built on short squeeze. There is no reliable support to go long from on a pullback until B-1 area is tested.
Classic news driven squeeze can reach 200% target. That means Y+3 should be the cap for the move and tagging that early next week points to a pullback to B-0 likely.
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