EURUSD Daily Forecast: February 09

 @ibtimes
on February 08 2010 9:45 PM

EURUSD Forecast:

The EURUSD made indecisive movement yesterday. Price attempted to push higher, topped at 1.3713 but closed lower at 1.3647. We have nothing significant so far and the market seems consolidating but still in a bearish scenario. However the hammer candlestick pattern I showed yesterday, remains indicating potential upside correction testing 1.3750 key resistance area and only a break below 1.3585 could cancel the bullish correction scenario, continue the bearish momentum targeting 1.3490 – 1.3400 area this week. On the upside, break above 1.3750 should trigger further bullish correction towards 1.3850 – 1.4030 area.

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