EURUSD Sep 19 to Sep 23 Outlook

By News Robot

Lawrence’s Comment

Recap
No further sell off, just jawboning from ECB and Fed to pop the pair. It is expected and obviously has been sold into at Y-0. Closed the week above midpoint and Y-1.

Outlook
Although Y-0 has been rejected, it does not mean that ECB will give up shocking the market again. Having euro drops to nothing has been the hidden agenda of ECB but it has been crippled by the actions from Fed.

The current situation is giving ECB the perfect excuse to let euro slides down to 1.3 or lower price level.

The only thing standing between that from happening is Fed. Since both ECB and Fed are going to be busy this week (meetings, announcements, etc.) it is not a good idea to stand between these two opposite forces. Stay away from the pair is probably a good idea.

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