EURUSD Jan 3rd to Jan 7th Outlook
Recap of Last Week
1-2-3 buy on 4-hour right off the start and run towards the 50% upside weekly expansion before the pair stalled. Euro then held up nicely at its week low and produced a even bigger 1-2-3 buy and tagged our resistance area (yellow zone) at the end of the week.
Next Week Outlook
Last week close is also the close of last year/quarter/month. It will be the most important price level for the coming month.
If previous week close acts as resistance, first stop for euro is 1.324 (red zone).
If previous week close acts as support, first stop is 1.36 (green zone).