Trading Edges That Last
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EURUSD Feb 20 to Feb 24 Outlook
Lawrence’s Comment
Sold off to below 1.30 triggered intervention by spreading rumors and speculative news again. Closed the week below Y-0 and above midpoint.
Outlook
Below 1.30 is rejected due to intervention implying those in control do not want to see 1.29 to print at all, or for now.
That however failed to take euro much higher like last few times as most other related markets are not responding well too.
As long as B-0 upto B+1 acting as resistance, retest of B-1 and more downside is expected.
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