fxpulsation
Posts : 8759 Join date : 2012-01-25
| Subject: Technical Analysis for EURO Tue Jan 14, 2014 8:17 am | |
| Technical Analysis for EURO The EURUSD was indecisive yesterday. The bias remains neutral in nearest term. Immediate support is seen around 1.3637 (yesterday’s low). A clear break below that area could trigger further bearish pressure retesting the lower line of the bullish channel and 1.3550 – 1.3500 key support area. Immediate resistance is seen around 1.3685. A clear break above that area could trigger further bullish pressure testing 1.3720 but key resistance remains around 1.3850. As long as stays inside the bullish channel, the major bullish scenario should remain valid but need a clear break above 1.3850 to keep the major bullish scenario remains strong. On the other hand, a clear break below the bullish channel and 1.3550 – 1.3500 could be an early signal of a bearish reversal scenario. | |
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