EURUSD Nov 12 to Nov 16 Outlook

By News Robot

Lawrence’s Comment

Recap
Went lower as expected. Violent challenge of Y-1 from below failed and gave as 1.27 by end of the week. Closed the week below Y-2 and near week low.

Outlook
Bearish with a potential surprise squeeze in the making. 4 Hour chart showing classic downside wedge in the making, once the resistance line is broken to the upside will force euro back up to target zone of B+1.

As long as euro fails to clear that and B-0 / Y-1 resistance area, 1.26 downside target from last week still in play.

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