Trading Edges That Last
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EURUSD Apr 16 to Apr 20 Outlook
Lawrence’s Comment
Euro drifted up exactly as expected and tagged Y-0 before turning down sharply. Closed near Y-1 with 50% range of prior week.
Outlook
A break of B-1 will likely giving just B-2 and B-3 quickly. That means tagging the previous year close.
Be very careful when that happens because government officials can kick start major intervention when they find an excuse that the “irrational currency movement is endangering the euro zone economy”.
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