The EURUSD was indecisive this week, made a Doji on weekly chart. Bounced strongly to the upside after found a support at 1.3145 on Tuesday, the single currency gained further against the Greenback after the market reacted positively to the ECB rate decision and press conference on Thursday. Price attempted to push higher and hit 1.3523 on Friday after a short lived bullish momentum triggered by risk appetite sentiment on better than expected US NFP number but quickly fell to the downside and closed lower at 1.3374, probably caused by Greek debt crisis issue which will have important development next week. On my daily chart below we can see price is still moving inside a bearish channel suggests the major bearish scenario remains intact as in general price is still making lower highs and lows. For the upcoming week, the upper line of the bearish channel and 1.3520 resistance area will be a key resistance. A clear break and daily close above that area could be a serious threat to the major bearish outlook. On the downside, a clear break and daily close back below 1.3361 could trigger further bearish pressure testing 1.3240 – 1.3145 support area.
Have a great weekend and see you guys next week.
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