Trading Edges That Last
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EURUSD Mar 07 to Mar 11 Outlook
Lawrence’s Comment
Euro found support after 50% range expansion down to near Y-2. Double bottom on 4 hours produced the low and gave us equal distance run back up above previous week close. Closed the week near Y-0 and above midpoint.
Outlook
Y-2 support saved the day and this points to a prolonged struggle on daily to drift higher against the strong weekly down trend. Bear flag likely to form with up drift target Y+1.
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