EURUSD Feb 08 to Feb 12 Outlook

By News Robot

Lawrence’s Comment

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.

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