EURUSD Jan 23 to Jan 27 Outlook
Warned about intervention since beginning of the year. Here we go again – some did all they can to support the low grade bonds, spreading rumors of solutions in near future.
Short squeeze all the way ended below Y+2 and closed above Y+1.
An artificial low was made last week. Such low cannot last unless there is a second boost to the squeeze, giving reasons for some to join the long side.
A pullback to B-0 downto Y-0 will provide the opportunity. euro will have to prove itself by holding this support level and rally from there to break the down trend.