EURUSD Aug 04 to Aug 08 Outlook

By News Robot

Lawrence’s Comment

Recap
Euro moved lower and made a flush at 1.34 instead of 1.33. Stayed tight range and reversed higher late in the week. Closed near Y-1 and above midpoint.

Outlook
A temporary bottom is in place as 1.34 was rejected. A run to B+2 and 1.35 is in the card. This is just normal reaction to the continuous selling over the past few weeks. Weekly down trend is in place and it will take a lot more to break the trend.

Up moves are counter-trend thus they can be terminated easily.

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