EURUSD Forecast    
The EURUSD continued its bearish momentum last week bottomed at 1.0704 after a strong US NFP number. From technical perspective, the bearish movement was a part of the bearish scenario after broke below the bullish channel as you can see on my daily chart below. The bias remains bearish in nearest term testing 1.0650. Immediate resistance is seen around 1.0800. A clear break above that area could lead price to neutral zone in nearest term testing 1.0850 area but any upside pullback now should be seen as a good opportunity to sell.  On the downside, a clear break and daily close below 1.0650 could trigger further bearish pressure testing 1.0500 – 1.0460 region.


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.