EURUSD Forecast

The EURUSD was volatile but indecisive yesterday. As you can see on my h4 chart below, price attempted to push lower, slipped below the trend line support and 1.3085 but that support area still hold so far and hit 1.3172 earlier today. The bias remains neutral in nearest term but this fact keep the bullish phase since bounced from 1.2625 remains intact with nearest bullish target remains around 1.3375. However note that overall price remains indecisive and moving sideways in the last two weeks with no consistent momentum. On the upside, we need a clear break at least above 1.3235 to keep the bullish phase remains strong. On the downside, 1.3085 – 1.3100 remains a good place for a long position with tight stop loss as a clear break and daily close below 1.3085 could end the bullish outlook.

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

.