EURUSD Forecast    
The EURUSD attempted to push higher last week, slipped above the range area, topped at 1.1569 but closed lower back below 1.1500 key resistance area as you can see on my daily chart below after rejected above D1 EMA 200 (1.1580). This fact creates a false breakout bearish scenario and keeps the major bearish trend alive and kicking. The bias is bearish in nearest term testing 1.1425/00 region. Immediate resistance is seen around 1.1500. A clear break and daily close above that area would retest 1.1569 – 1.1580 major resistance area. On the downside, a clear break below 1.1425/00 would expose 1.1270 – 1.1215 area.

eurusddaily

FX Instructor Forex Blog – For Traders, By Traders

Leave a Reply