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EURUSD Oct 13 to Oct 17 Outlook
Lawrence’s Comment
Euro rallied from Y-1 as expected and cleared Y-0 in 1 go. The counter-trend rally was triggered as mentioned last week zooming it back up to near 1.28 before stalling. Closed the week near Y-0 and below midpoint.
Outlook
Euro rejected above Y+1 and 1.28 decisively. It will be difficult to clear Y+1 again until a proper bottom on 4 hours is formed.
As long as euro cannot clear Y+1 we are looking for a retest of Y-1.
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