EURUSD Jul 23 to Jul 27 Outlook

Recap
I was talking about sudden wild swings last week and we got that everyday last week. Every day during european session euro drifted lower yet by US session euro popped higher quickly. By Friday however the magic was gone when banks from Spain started feeding out bad news. Closed the week below Y-1 and near week low.

Outlook
No one, including ECB, EU and Fed, has provided a reason for anyone to buy euro. As no one sees any signs of stregnth in euro, the selloff on Friday is expected. Big question is how far will euro drop before finding a floor.

As long as B-0 acts as resistance, B-2 to B-3 is likely early next week.