EURUSD Forecast

The EURUSD was indecisive yesterday. Price attempted to push lower after broke below 1.3750 but found good intraday support around 1.3697 as you can see on my hourly chart below and closed higher at 1.3751. The bias is neutral in nearest term but this fact should keep the overall technical intraday bias remains strongly to the upside especially if price able to make another clear break above 1.3787 testing 1.3935 area. On the downside, a clear break below 1.3697 could trigger further bearish pullback but only a clear movement back below 1.3560 – 1.3600 area could be a threat to the bullish outlook which started after the violation to the bearish channel on Monday. Fundamental focus today will be on Greek debt payment deadline and if Greece fails to pay it debts the Euro could be under heavy pressure.

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