EURUSD Dec 24 to Dec 28 Outlook

By News Robot

Lawrence’s Comment

Recap
As expected euro strength continues. The normal consolidation of 50% previous week range also happened, this time above Y+1. Closed the week at Y+1 and below midpoint.

Outlook
As euro zone was not the news of the week it did not play like one. Holding above Y+1 is signs of strength. A drop below B-1 only points to B-2 which does not break the daily uptrend yet.

For euro to turn bearish, we need a top formation that span more than a week to form first.

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