Recap The expectation Euro would be a difficult play was correct. Due to ECB and Greece fighting, Euro spiked up and down depending on the news fed out at the time. Closed the week above Y-0 and near week low.
Outlook Euro failed to push higher and closed back down to near Y-0 is clearly a sign of weaknesses. A test of Y-1 is necessary to produce a better bottom. What we cannot tell, however, is whether Y-1 can stop the drop once it has started.
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Lawrence's Comment
Recap
Monday wild swings within a tight range gave fuel to the breakout of Y+1. Yet not enough buying to keep NQ staying above Y+1. Fade out actions led to ...
EURUSD Feb 09 to Feb 13 Outlook
Lawrence’s Comment
The expectation Euro would be a difficult play was correct. Due to ECB and Greece fighting, Euro spiked up and down depending on the news fed out at the time. Closed the week above Y-0 and near week low.
Outlook
Euro failed to push higher and closed back down to near Y-0 is clearly a sign of weaknesses. A test of Y-1 is necessary to produce a better bottom. What we cannot tell, however, is whether Y-1 can stop the drop once it has started.
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