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EURUSD Sep 12 to Sep 16 Outlook
Lawrence’s Comment
As expected, intervention or not, euro sold off from our resistance area down to below our target zone. Then range expansion to the downside until Y-4 is tagged. One of the best setup this year.
Outlook
B-0 upto Y-2 is now strong resistance as the downtrend is established on daily. As long as that acts as resistance, euro will go lower.
The tricky scenario, however, is that euro flushed early next week down to B-2 to B-3 first and then bounced back up quickly above B-1. That can force a short cover rally to break above B-0 area and challenge B+1.
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