EURUSD Week of Oct 25 – 29 Outlook

By Lawrence

Recap of past week

Failure to hold above yellow zone in beginning of the week led to a test of previous month high (left most green line). The week ended with a lower low and closed above mid point.

Next week outlook

Previous month high acted as support, current week high (right most red zone) to current month high should be tagged first before any significant retracement is possible.

A break of 1.37 (current week low, right most yellow zone) implies a flush to 1.35 quickly.