Recap Y-1 breached early in the week but did not act as resistance. That is the early signs of strength. Couple that with the spike low is 100% absolute expansion, we already know Y-0 was in play. Y-0 tagged by end of the week.
Outlook B-0 acts as support and taking out B+1 decisively, major rally will start with 1st target B+3. A weak selloff to B-1 will not produce significantly downside move as weekly range is contracting. Closing at Y-0 also means some kind of equalibrium is reached.
Lawrence's Comment
Recap
Further compression happened. Price broken down to Y-2 resulted in a strong bounce from Y-2 twice. However, closed the week at midpoint below Y-1.
Outlook
Clearly intervention at this 76 ...
US Federal Reserve Open Market Committee (FOMC) made the announcement last Thursday that it is going to buy $40 billion MBS (mortgage backed securities) every month with no expiration date ...
Lawrence's Comment
Recap
Euro drifted lower and consolidated around Y-1. As euro dropped lower, European officials came out b.s. all the way to keep the currency stable again. Closed the week at ...
Lawrence's Comment
Recap
Aussie did not produce a buy setup early in the week. It just drifted higher to retest Y-0. The bear flag setup was good for a retest of Y-1 ...
EURUSD Feb 21 to Feb 25 Outlook
Lawrence’s Comment
Y-1 breached early in the week but did not act as resistance. That is the early signs of strength. Couple that with the spike low is 100% absolute expansion, we already know Y-0 was in play. Y-0 tagged by end of the week.
Outlook
B-0 acts as support and taking out B+1 decisively, major rally will start with 1st target B+3.
A weak selloff to B-1 will not produce significantly downside move as weekly range is contracting. Closing at Y-0 also means some kind of equalibrium is reached.
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