EURUSD Forecast

The EURUSD continued its indecisive movement yesterday, made another Doji on daily chart. Overall bias remains bearish as generally price is making lower highs and lows on h4 chart but limited bearish pressure and ranging market could continue as we are entering holiday season. I still prefer a bearish major scenario but again, would need a clear break below the trend line support and 1.3060 key support area before testing 1.2968 – 1.2920. Expected range remains between 1.3200 – 1.3070/60 and need a clear break from either side to see clearer direction. Aggressive traders may long around 1.3070/60 or short around 1.3170 – 1.3200 with tight stop loss. Standing aside until we have a clear break or waiting until next year before jump into the market is not a bad idea too.

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