EURUSD Forecast
The EURUSD had a strong bullish momentum yesterday topped at 1.2058 and hit 1.2075 earlier today. This fact invalidates the bearish pin bar scenario printed on Wednesday as price breaks above the tail of the bearish pin bar as you can see on my daily chart below. The bias is bullish in nearest term retesting 1.2090 key resistance. A clear break and daily/weekly close above that area would reactivate my bullish mode testing 1.2175 – 1.2220 region next week. Immediate support is seen around 1.2045. A clear break below that area could lead price to neutral zone in nearest term testing 1.2000 area.

FX Instructor Forex Blog – For Traders, By Traders

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.