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EURUSD Mar 07 to Mar 11 Outlook

By News Robot on 2011 Mar 5 Sat 7:05


Lawrence’s Comment

Recap
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.

Outlook
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.

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