EURUSD Forecast

The EURUSD was indecisive yesterday. Price has been moving sideways this week but overall still in a bullish phase after bounced from 1.2625 and broke above the trend line resistance (white) as you can see on my h4 chart below. The bias is neutral in nearest term. Immediate support is seen around 1.3075. A clear break below that area could trigger further bearish pressure but only a clear break and daily close below 1.3000 could be a threat to the current bullish phase. On the upside, we need a clear break and daily close above 1.3250/75 to continue the bullish scenario testing 1.3375 even 1.3530.

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

.