Trading Edges That Last
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As Featured In
EURUSD Jan 24th to 28th Outlook
Recap of Last Week
Early in the week a low was formed to create a powerful IHS with neckline at approx. prior week high (green zone). A breakout of that zone in mid week has turned that into a support area. Euro rallied to close at its high of the week. Range was tightened but it was still 400 pips. Volatility is definitely staying.
Next Week Outlook
The IHS has a target of 1.39+. That puts the pair in upside expansion mode and it is matching the 200% upside targets for the prior week and last week. The zone is 1.395 to 1.400 (not shown). If euro tags that area quickly in the beginning of the week, a tradable pullback is expected.
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