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EURUSD Apr 08 to Apr 12 Outlook
Lawrence’s Comment
Euro could not hold up and retested Y-1. Then well timed news shock were released to punish the sellers. FBO against Y-1 that cleared Y-0 in 1 go gave way to Y+1 as target. Euro almost got it. Closed the week above midpoint and near Y+1.
Outlook
Problem not resolved. Simply jaw boning from politicians gave us the short squeeze but it is not sustainable. Until euro zone comes up with a better plan or overall resolution to their problems, euro will easily fall back down to at least below B-0.
News driven environment hence not good for swing traders.
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