EURUSD Jun 16 to Jun 20 Outlook

By News Robot

Lawrence’s Comment

Recap
Bearish bias on euro pays off. Euro could not hold previous week close and fell back down to Y-0. Not much bounce was observed when euro continue to drop until equal distance from Y-0 was reached. Closed the week below Y-0 and midpoint.

Outlook
Inside week and weak close points to a test of Y-1 is in order.

Spike bottom against Y-1 will force a run back up to B-0 again.

Y-1 / B-1 turning into resistance means a drop to 1.34 and below is likely.

Share

  • You must be logged in to comment. Log in