EURUSD Dec 20th to Dec 24th Outlook

Recap of Last Week

Run above yellow zone tagging prior week high. Then w. thrust against prior week high and stalled back to prior week midpoint and failed to hold. Tested prior week low and bounced back to midpoint of the week and stalled to close at low of the week, but above prior week low. It is standard STOPD behaviour when both long side and short side could not overpower the opponents to give up their positions, thus trapped in the prior week range.

Next Week Outlook

A break of last week low (red zone) and that in turn becomes resistance, a drop to below 1.30 is in play. If support is found at the (red zone) and/or the weekly midpoint (yellow zone), a run towards the green zone will happen quickly.

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