EURUSD Jan 09 to Jan 13 Outlook

By News Robot

Lawrence’s Comment

Recap
Did not comment on euro last week due to technical issues with the post not added proper. Y+1 acted as resistance leading to a quick break below Y-0, which opened the door to Y-1 and below. Once Y-1 was taken out, Y-2 was tagged as well. Closed the week at the low.

Outlook
The structural support of euro is coming in around 1.25 area. As long as Y-1 acting as resistance, euro will have no choice but sliding towards the support zone.

If intervention happens again, then B-0 will be taken out quickly and turning into support, there you get a small window of time for a continuation short squeeze back up to B+1.

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