Weekly Price Action and Ichimoku Outlook - July 22nd - 27th

outside bar double pin bar inside bar eurusd 2ndskiesforex.com july 22nd

After forming a corrective pullback last week comprised of an outside bar, a double pin bar and an inside bar, the Euro resumed its natural selling posture and rightfully so considering what is happening in the EZ. The financial cancer in Spain has been metastasizing and is entering what I feel is its terminal phase with every region starting to request bailout funding.  The truth is there will not be enough for all of them so something has to break.

This resulted technically in the EURUSD selling off more on friday than it had gained in the last 7 days reminding us the market will continue to be more appropos to sell Euros than buy them, and it did …

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