EURUSD Apr 01 to Apr 05 Outlook

By News Robot

Lawrence’s Comment

Recap
Pusher higher in the beginning of the week to fill the gap above but failed. News hit the wire before it was done. Euro collapsed back down to Y-2 before it can find real support. Closed the week below Y-1 and midpoint.

Outlook
Still news driven environment for Euro. Cyprus trouble is not even close to being resolved. This repeated problem of more crisis showing up will discourage people from putting money into euro. Hence there is no short term liquidity support at all. A slide to 1.26 the longer term support zone is not out of the question.

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