EURUSD Oct 17 to Oct 21 Outlook

By News Robot

Lawrence’s Comment

Recap
Multiple news shock since the beginning of the week has sent euro higher all week. The normal range expansion target of Y+3 was tagged by the close of the week.

Outlook
Pullback or consolidation is expected. News shock from last week are totally rumors in nature and nothing of any substance. Thus once any one of the persisting problems in euro zone resurface, this rally will be over.

Euro has returned to where the break down started (1.385 to 1.40 area) and if size players determine to stay away from euro in exchange for other currencies, a longer term lower high will be formed from here and much lower price level in euro is expected.

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