EURUSD Forecast

The EURUSD was volatile but indecisive yesterday, made a Doji on daily chart. The bias is neutral in nearest term but as you can see on my h1 chart below price still moving in a minor bullish channel since bounced higher from 1.3427 suggests that price is still in bullish correction phase. The target of this bullish correction is around the trend line resistance and 1.3669 which could be tested if price able to make a clear break above 1.3570. Immediate support remains around 1.3470 and the lower line of the minor bullish channel. A clear break below that area could trigger further bearish pressure testing 1.3420 before targeting 1.3250.

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

.