Recap Consolidation play all week around Y+1. Upside momentum carried Euro higher in an up channel. Closed the week near Y+1 and midpoint.
Outlook B+1 / B+2 strong resistance zone off the weekly chart. Breaking below B-0 / Y+1 points to retest of Y-0 and below the crime scene of short squeeze.
Chart with key levels. Purple horizontal lines mark the 2012 range. Light purple horizontal line marks the 50% expansion. Blue lines down channel. Red lines ...
Lawrence's Comment
Recap
Gap zone tested and failed to fill the gap. Price breakdown to Y-2. Bounced back to Y-1. Then 100% absolute range expansion to the downside stopped the drop. ...
EURUSD Feb 15 to Feb 19 Outlook
Lawrence’s Comment
Consolidation play all week around Y+1. Upside momentum carried Euro higher in an up channel. Closed the week near Y+1 and midpoint.
Outlook
B+1 / B+2 strong resistance zone off the weekly chart. Breaking below B-0 / Y+1 points to retest of Y-0 and below the crime scene of short squeeze.
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