Trading Edges That Last
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EURUSD Feb 04 to Feb 08 Outlook
Lawrence’s Comment
Held right near Y+1 and then breakout to the upside again. Tagged Y+2 and paused. Zoomed to Y+3 and pullback from there since. Closed the week above Y+2 and midpoint.
Outlook
2nd leg push higher has its short term objective completed. As long as euro can form a top within B+1 to Y+3 area, a more significant pullback can take euro back down to Y+1 again.
Next week is likely to be capped by Y+4 and consolidate around Y+3.
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