Recap Euro in wait and see mode early part of the week for the outcome from Euro zone meeting. After that euro drifted higher but not by much. Closed the week below Y0 and above midpoint.
Outlook Tight range week looking for direction. Resistance above confirmed. Until Y+1 / B+2 is cleared, Euro is more likely to drop back down to B-3 to retest the spike low in coming weeks.
Lawrence's Comment
Recap
Sell formation not materialized. Breach of Y+1 earlier in the week points to breakout target of Y+2 and Y+3. That worked out well and closed the week at ...
Lawrence's Comment
Recap
Consolidated above Y-1 first half of the week. Then strong reaction to tag of Y-1 sent euro back up to also Y-0. Then news shock came and trapped the ...
Lawrence's Comment
Recap
As mentioned last week, looking for a rally to 1300 and we got that, plus a lot more. 1300 turned into support and helped to send ES ...
EURUSD Feb 16 to Feb 20 Outlook
Lawrence’s Comment
Euro in wait and see mode early part of the week for the outcome from Euro zone meeting. After that euro drifted higher but not by much. Closed the week below Y0 and above midpoint.
Outlook
Tight range week looking for direction. Resistance above confirmed. Until Y+1 / B+2 is cleared, Euro is more likely to drop back down to B-3 to retest the spike low in coming weeks.
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