EURUSD Feb 10 to Feb 14 Outlook

By News Robot

Lawrence’s Comment

Recap
Similar jawboning and again 1.35 defended in an ugly fashion. Surprise jump higher squeezed euro above Y-0 by the end of the week. Closed the week above Y-0 and midpoint.

Outlook
On weekly, euro has been in a down channel for a long time. It is now broken to the upside. If euro re-enter the channel, it will have enough fuel to flush down to way below 1.35.

Since we know that is the consequence, so do the officials in Europe. By defending B-0 at all cost, they may be able to pull off a major short squeeze sending euro back up to 1.38 and higher.

Hence B-0 is the line in the sand. Expect messy price action around it in coming 2 weeks.

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