EURUSD Forecast
The EURUSD finally broke below 1.1725 support area yesterday, bottomed at 1.1639 and hit 1.1633 earlier today in Asian session. This fact gives further confirmation to the bearish pin bar scenario. The bias is bearish in nearest term testing 1.1585 – 1.1530 area.  Immediate resistance is seen around 1.1690. A clear break above that area could lead price to neutral zone in nearest term testing 1.1725 area which is a good place to sell with a tight stop loss as a clear break back above 1.1725 would activate my “wait and see” mode as direction would become unclear. On the downside, a clear break and daily/weekly close below 1.1530 would retest 1.1300 next week.

eurusddaily

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.