Recap Euro shot higher as expected to the target zone after going sideway earlier in the week. Closed above Y+1 and midpoint.
Outlook Euro finally entered its longer term reisstance zone and price actions here will be messy as shorter term players scrambling to cover their shorts while long term capital outflow accelerate. Test of B-0 likely and B-0 turning into resistance will give us B-1 and below.
Lawrence's Comment
Recap
Consolidation around Y+1 at equal distance. 50% range bounded the week nicely. Closed the week near Y+1 and midpoint.
Outlook
As long as B+1 acting as resistance we ...
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It is reported that in China, many banks and luxury boutiques in major cities are running out of physical gold as retail customers are rushing in to buy physical gold ...
EURUSD Mar 21 to Mar 25 Outlook
Lawrence’s Comment
Euro shot higher as expected to the target zone after going sideway earlier in the week. Closed above Y+1 and midpoint.
Outlook
Euro finally entered its longer term reisstance zone and price actions here will be messy as shorter term players scrambling to cover their shorts while long term capital outflow accelerate. Test of B-0 likely and B-0 turning into resistance will give us B-1 and below.
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