Trading Edges That Last
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EURUSD Jun 17 to Jun 21 Outlook
Lawrence’s Comment
Euro drifted higher around Y+1. Closed the week above Y+1 and midpoint.
Outlook
Completely artificial rally since 3 weeks ago by empty promises from ECB. A tight up channel is visible on 4 hours and 8 hours.
Rallied like cable and keep extending to the upside in a well defined structure cannot continue for a long time. Expects quick snapback down to B-2 once the up channel support line is broken.
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