EURUSD Jan 17th to 21th Outlook
Recap of Last Week
I mentioned that we are looking for many 500 pips swings to come this year in the prior weekly outlook on euro. Here we are, a week later with a full 500 pips swing that travel from the prior week low back to the prior week high. At the end of the week, however, euro failed to close above prior week high.
Next Week Outlook
Back to back 500 pips swings within the same range is likely to produce a tight range this week.
The less likely scenario – should we get a strong rejection of the previous week high (green zone), a pullback to the previous week midpoint (yellow zone) is expected.