Recap Euro drifted up exactly as expected and tagged Y-0 before turning down sharply. Closed near Y-1 with 50% range of prior week.
Outlook A break of B-1 will likely giving just B-2 and B-3 quickly. That means tagging the previous year close.
Be very careful when that happens because government officials can kick start major intervention when they find an excuse that the “irrational currency movement is endangering the euro zone economy”.
Lawrence's Comment
Recap
The easiest play of last week. Found support, zoomed back up to above Y+1 target as mentioned last week. Sharp pullback to almost Y-0 and then popped higher. Closed ...
Lawrence's Comment
Recap
Bullish scenario unfolded. Held Y-0, gave us Y+2 and no pullback since as gold strengthen at the same time. Aussie could not stop going higher until 200% range expansion. ...
EURUSD Apr 16 to Apr 20 Outlook
Lawrence’s Comment
Euro drifted up exactly as expected and tagged Y-0 before turning down sharply. Closed near Y-1 with 50% range of prior week.
Outlook
A break of B-1 will likely giving just B-2 and B-3 quickly. That means tagging the previous year close.
Be very careful when that happens because government officials can kick start major intervention when they find an excuse that the “irrational currency movement is endangering the euro zone economy”.
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