EURUSD Jan 07 to Jan 11 Outlook

Recap
As expected, once a clean breakout is in place, we get full range expansion in 1 go. The first push towards Y+1 failed to clear the tight range resistance, giving us even better entry opportunity. The breakout to the downside sent euro down to Y-4. Closed the week above Y-3.

Outlook
First significant pullback in euro dollar on weekly. As long as 1.30 down to 1.29 acting as support, it will be the first higher low for euro in weekly.

On daily, the up trend is broken, so any rally will be capped below 1.32 until a strong bottom is formed.