EURUSD Week of Dec 6th to Dec 10th Outlook
Recap of last week
Flush to target red zone 1.31 right off the start of the week. Then a reversal started mid week that retested the original target zone – classic wyckoff spring off an important zone. Straight up rally since then and tagged yellow zone by Friday close.
Next week outlook
A new month, yet the same price level has reappeared again. 1.36 area (the green zone) is the October low, November midpoint, and previous quarter high. It will be the first likely target to tag next week.
If price shoot through the green zone first, then the yellow zone will be the likely support area.
If price fails to take out the green zone, selloff to yellow zone as first target and next is red zone down below at 1.31 again.