EURUSD Jul 13 to Jul 17 Outlook

Recap
Greece referendum turns out to be a non-event. Euro flushed lower but SNB intervened. Y-1 turned into support after Y-0 was tagged. This setup led to a rally back up until 100% range expansion was reached. Closed the week above Y-0 and midpoint.

Outlook
Down trend on 4 hour breached with upside target of B+2 / 1.14 area. Is it the swing low for Euro on weekly, probably not. Do not confuse volatility as strength just like the week before the last.

B-0 now support with Y+1 in play due to FBO against Y-1.