EURUSD Forecast
The EURUSD attempted to push higher yesterday, topped at 1.1852 but whipsawed to the downside and hit 1.1562 after the ECB decided to stop QE in December but keep rates remain low. Technically, price broke below the trend line support as you can see on my H1 chart below, which invalidates the bullish phase and activates my bearish mode. The bias is bearish in nearest term testing 1.1500 area. Immediate resistance is seen around 1.1620. A clear break above that area could lead price to neutral zone in nearest term but as long as stay below 1.1725 I prefer a bearish scenario at this phase and any upside pullback should be seen as a good opportunity to sell.

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.