Recap Breakout play worked out, just to the surprise of many that it was to the upside. It is not a surprise to my premium members as they learned from my newsletter than short side has been too crowded as of end of January. Upside target of Y+3 tagged and the follow through went up to Y+4. Closed the week near Y+3 and above midpoint.
Outlook Daily down trend broken. Weekly down trend broken. Euro is now in daily and weekly no trend condition which makes all the swings on daily level to have weak or no follow through. B-0 support with consolidation around close likely.
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
Lawrence's Comment
Recap
Inside week. Held right above Y-1 and blasted off higher. Thought it may break above Y+1, the original upside target, yet failed to do so, giving us ...
Lawrence's Comment
Recap
Weekly bull flag breakout gave us new high and 200% range expansion. Closed the week above Y+4 and near week high.
Outlook
1.40 resistance is now strong support. Monthly ...
For more information about this report please refer to the Market Bias Informant pageTrading day for Forex symbols start at around 5 pm ET depending on Daylight Saving Time schedule
EURUSD Feb 08 to Feb 12 Outlook
Lawrence’s Comment
Breakout play worked out, just to the surprise of many that it was to the upside. It is not a surprise to my premium members as they learned from my newsletter than short side has been too crowded as of end of January. Upside target of Y+3 tagged and the follow through went up to Y+4. Closed the week near Y+3 and above midpoint.
Outlook
Daily down trend broken. Weekly down trend broken. Euro is now in daily and weekly no trend condition which makes all the swings on daily level to have weak or no follow through. B-0 support with consolidation around close likely.
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