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EURUSD Feb 02 to Feb 06 Outlook
Lawrence’s Comment
Euro found support as expected and bounced back up to Y-0 target. From there it just consolidated in tight range. Closed the week below Y-0 and near midpoint.
Outlook
Two scenarios in play. B-0 down to 1.12 support will give Euro another leg higher in a daily level bear flag / 4 hour up channel. A flush to B-1 can be difficult to play as we cannot tell if the reaction at B-1 is likely to hold or not.
Hands off could be a good idea this week for Euro.
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