EURUSD Forecast

The EURUSD was indecisive yesterday. As long as stays below 1.3130 – 1.3163 the nearest technical bias remains to the downside as a part of the bearish outlook since broke below the bullish channel last week, but from a broader view as long as stays above 1.3000 price is still in a sideways condition, moving between 1.3000 – 1.3484 in the last ten weeks. On the upside, a clear break above 1.3163 could trigger further bullish pullback testing 1.3200 – 1.3240 resistance area. Immediate support is seen around 1.3080. A clear break back below that area could trigger further bearish pressure retesting 1.3000 strong/key support area.

©2012 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.

.