EURUSD Jan 16 to Jan 20 Outlook

By News Robot

Lawrence’s Comment

Recap
Tried to pull off a bounce from Y-1 but stalled right at the resistance we mentioned last week and dropped to new low. Closed the week below Y-1.

Outlook
Intervention (sort of) by ECB and European officials earlier in the week proven useless.

The target 1.25 area mentioned last week is still in play. Early part of next week can be a roller coaster ride down to 1.25 and it is possible that euro can bounce all the way back up by end of the week.

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