EURUSD Forecast    
The EURUSD had another indecisive movement yesterday, formed another Doji on daily chart. Price attempted to push lower bottomed at 1.0565 but closed higher at 1.0624. The bias is neutral in nearest term. Overall I remain bearish, but price is still in a consolidation phase. Immediate resistance is seen around 1.0640. A clear break above that area could trigger further bullish pressure testing the trend line resistance and 1.0700 region which is a good place to sell targeting 1.0500 with a tight stop loss above the trend line resistance as you can see on my H1 chart below. On the upside, a clear break and daily close above the trend line resistance and 1.0700 could trigger further bullish correction testing 1.0800 key resistance.

eurusdhourly

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.