EURUSD Forecast

The EURUSD didn’t make significant movement yesterday. There are no changes in my technical outlook. The bias is neutral in nearest term. Price has been moving sideways/consolidating between 1.3050/85 – 1.2947 since Wednesday and need a clear break from the range area to see clearer direction. My overall technical bias remains to the downside expecting a clear breakdown below the range area testing January low at 1.2873 even lower. On the upside, a clear break and daily close above 1.3050/85 could trigger further bullish pullback testing 1.3160.

©2011 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.

.