The EURUSD failed to break below 1.3740/60 support area on Friday and whipsawed to the upside and hit 1.3952 earlier today in Asian session. The intraday bias is more to the upside now especially if price able to make a clear break above 1.3950 retesting 1.4035 but as long as price stays below 1.4035 the shooting star bearish scenario which seen on March 07 remains intact and only a clear break above 1.4035 would cancel the bearish scenario and continue the bullish outlook testing 1.4281 this week. Immediate support at 1.3860. A clear break below that area would change the intraday bias to bearish retesting 1.3740/60 key support area and keep the shooting star bearish scenario remains strong.
©2011 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.