15 Januari 2016 1:06 AM
EURUSD Forecast
The EURUSD had another indecisive movement yesterday. Price attempted to push higher topped at 1.0943 but whipsawed to the downside and closed lower at 1.0862. The bias is bearish in nearest term testing 1.0800. A clear break and daily/weekly close below that area could trigger further bearish pressure testing 1.0710 area. Immediate resistance is seen around 1.0900. A clear break above that area could lead price to neutral zone in nearest term testing 1.0969 area which remains a good place to sell with a tight stop loss. As long as stays below the major trend line resistance I still prefer a bearish scenario at this phase. On the upside, a clear break and daily/weekly close above 1.0969 could trigger further bullish pullback testing 1.1060 and the major trend line resistance.
