EURUSD May 07 to May 11 Outlook

By News Robot

Lawrence’s Comment

Recap
Strong breakout above 1.33 did not happen. Instead, a w. upthrust against Y+1 happened early in the week. That put Y-0 and Y-1 into play. Closed the week at Y-1.

Outlook
As mentioned last week, if euro can break Y-0 decisively, Y-2 is the target. That should be the target for early next week as euro ran out of time this week.

From Y-2 a bounce to Y-1 is likely if the selloff is not a strong one.

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