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EURUSD Daily Forecast: January 09

EURUSD Forecast    
The EURUSD had another indecisive movement last week. As you can see on my H1 chart below, price slipped above the trend line resistance but moving back below the trend line, suggests a potential false breakout bearish scenario. The bias is bearish in nearest term testing 1.0500. A clear break below that area would give further confirmation to the false breakout bearish scenario testing 1.0450/00 area. Immediate resistance is seen around 1.0575. A clear break above that area could lead price to neutral zone in nearest term testing 1.0615 key resistance.

eurusdhourly



This post first appeared on FX Instructor Forex Blog - For Traders, By Traders, please read the originial post: here

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EURUSD Daily Forecast: January 09

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