EURUSD Feb 13 to Feb 17 Outlook

Recap
Break out upside happened but that gave us B+2 only as the news shock was immediately reversed several hours later by flip flop from the euro zone officials. So we got what is needed to trigger a selloff, closed the week at midpoint below Y+1.

Outlook
The Greece issue is getting very messy at this point.

Riots is not funny. Any deal made by this government will be invalid if Greece get a regime change. I talked about this possibility for weeks and no one realize how that is possible. Now the Greece police union came out with a statement stating potential arrest of its leaders – the doorway to regime change is definitely open.

The fallout of Greece debt crisis may turn into a complete shocker to all.

If wild swings and volatility is not your cup of tea, avoid trading for now until some clarity from the region may be a good idea. Personally I doubt if we are going to get any clarify over the next few months.

Next week, a shock to the upside points to 1.335 and 1.36.

The long term supports are 1.29 and 1.26.