EURUSD Mar 07 to Mar 11 OutlookBy on 2011 Mar 5 Sat 7:05:03
Y-0 acting as support, rallied to Y+1 as expected. Without any significant selloff formation pulled back to slightly higher than Y-0 and took off again, this implied Y+2 was the target and it was tagged by end of the week.
No signs of weaknesses yet. Weekly range expanded. More upside is likely. The hard part is to find a lower risk entry. Drifting back to B-0 with B-0 acting as support points to a retest of B+1. Fast drop back to B-0 means consolidation for the coming week.