EURUSD Daily Forecast: March 02

By @ibtimes on

EURUSD Forecast

The EURUSD attempted to push higher yesterday, but again failed to make a clear break above 1.3860 key resistance, closed lower below 1.3785, violated the bullish channel as you can see on my h1 chart below and hit 1.3742 earlier today in Asian session. These facts keep price in sideways condition from h4 chart point of view, but produce a bearish intraday technical bias testing 1.3700 – 1.3650 support area. On the upside, another consistent move above 1.3785 would lead us to neutral zone in nearest term but would open the door for another bullish attempt retesting 1.3860 key resistance area.

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

.

Join the Discussion