US
UK
Chinese
Japanese
Hong Kong
Australia
Spanish
Deutsch
Portuguese
Korean
French
Russian
EURUSD Forecast
The EURUSD attempted to push higher yesterday, topped at 1.2618 but whipsawed to the downside and closed at 1.2534, keep the bearish bias remains strong. We have seen strong bearish pressures in the last four weeks broke some important supports and now price is testing another important support around 1.2500/30. A clear break and daily close below that area could trigger further bearish pressure testing 1.2400 region or lower. Immediate resistance is seen around 1.2620/41. A clear break above that area could interrupt the current strong bearish trend. CCI and MACD in oversold area but we know that in a strong trending market indicators can be in extreme oversold/bought condition in a long time. I remain bearish and still prefer to sell on rallies.
©2012 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.
.
Most Popular Slideshows
Top Ten Most Peaceful Countries in the World in 2013 [SLIDESHOW]
Kim Kardashian Baby Girl: Suggested Ways Kanye West’s New Born Can Earn Money to Keep Up with the Kardashians [PHOTOS]
'Game of Thrones'-like Film, 'The Queen of the Tearling,' Casts Emma Watson as Lead Star and Exec Producer [PHOTOS]
Asus Transformer Infinity Pad, Sony Vaio Duo, Toshiba Satellite, A Look at Intel's Haswell 4th Generation Ultrabooks and Notebooks [Photos]
![Metallic iPhone 6 Render is Sexy, Powerful Enough to Defeat the Plastic-Wrapped Galaxy Note 3 [PHOTOS]](http://img.ibtimes.com/www/thumb/mainpage/373990-195110-metallic-iphone-6-render-is-sexy-powerful-enough-to-defeat-the-plastic.jpg)
