EURUSD Jun 09 to Jun 13 Outlook

Recap
Y-1 held up once in the beginning of the week but failed on second try and flushed down to Y-3. Spike reversal from there gave us upside target of above Y+1. Tagged Y+1 and stalled since. Closed the week above Y-0 and midpoint.

Outlook
Wide range reversal that closed near Y-0 and well above B-0. Surprisingly it is not bullish at this point because the week was also outside week.

Until Euro can prove itself is strong enough to hold B-0 again, Y+2 can easily cap any up move and slam it back down to B-0 with Y-2 likely.

Remember European politicos like Euro lower, much lower to reduce their burden with rising debt while US continues to export their problems to them. The fight continues until one side give up.