Trading Edges That Last
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EURUSD Mar 18 to Mar 22 Outlook
Lawrence’s Comment
Consolidated early in the week as a bear flag. Finally bear flag broken to the down side and breached Y-1. Euro reversed its course quickly above previous week close and zoomed higher until 100% absolute range expansion is reached. Closed the week above Y-0 and midpoint.
Outlook
The reversal looks very similar to the one we got with cable in terms of price pattern formation.
For the reversal to work out, we need B-0 to hold and zoom higher this week. As long as Y-1 holds will be interested in potential long setups with target B+2 and above.
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