EURUSD Forecast:

The EURUSD attempted to push higher yesterday, topped at 1.3385 but further upside correction was rejected as price closed lower at 1.3286. Earlier today in Asian session price is traded higher around 1.3315. The bias is neutral in nearest term but the main outlook remains bearish for this pair with 1.3100 as nearest technical target. Immediate resistance at 1.3350/80. Break above that area could trigger further upside correction testing 1.3450/35 area. Only a movement above 1.3450 area could be seen as a serious threat to the bearish scenario. Initial support at 1.3250. Break below that area should continue the bearish scenario towards 1.3100 region.

©2010 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.