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EURUSD Forecast
The EURUSD had another indecisive movement yesterday. There are no changes in my technical outlook. The bias remains neutral in nearest term and price is still in consolidation phase. Price is still able to move inside the bullish channel and the lower line of the bullish channel still provide a good support so far, keep the bullish correction phase intact. Immediate resistance is seen around 1.2385. A clear break above that area could trigger further bullish pressure testing 1.2440. On the downside, a clear break and daily close below 1.2250 and the bullish channel could end the bullish correction phase and continue the major bearish scenario.
©2012 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.
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