EUR/USD Forecast January 6
By ltan | January 5, 2014 11:49 PM EST
Simultaneous Release at
Good day forex traders and readers.
In the previous EUR/USD forecast we noted that the currency pair was bullish. Having said so I cautioned against any commitment as low volume and liquidity conditions persisted. We do not want to be caught with an unexpected move.
Looking at the EUR/USD daily chart above we note that the currency pair unexpectedly made a bearish correction. I hope everyone heeded my advice cause to be caught long with such a dip would be devastating to margin accounts!
The current technical setup comes across as a loose double top chart pattern. We will need to observe carefully how the EUR/USD will react to the pivotal level of 1.36.
continue on to TheGeekKnows.com for the fundamental analysis of the EUR/USD Forecast Weekly Review to understand more about the underlying market sentiments.
Most Popular Slideshows
- Taylor Swift Named Forbes' Second Highest Paid Country Musician [PHOTOS]
- Forever Lost: Indescribable Anguish for Malaysia Airlines MH17 Families, Remains of Some Victims May Never Be Found (PHOTOS)
- Global Aviation Accidents: UN to Form Safety Task Force, Gov'ts Should Share Intelligence Info to Avert Future Incidents on Flying Over Warzones (PHOTOS)
- Lunch with the Gods: Pope Francis Eats with Vatican Workers in Cafeteria
Join the Conversation
- Transfer News: FC Barcelona, Man Utd to Compete for Juan Cuadrado's Signature as Fiorentina Reveal Willingness to Sell
- Hilary Duff's New Music Video Chasing the Sun Goes Viral on YouTube [WATCH VIDEO]
- LeBron James to Return to Miami, Face Heat on Christmas Day 2014
- Shanghai Stock Exchange Will Not Extend Trading Hours
- Qatar's Surging Real Estate Prices Won't Affect Thriving Economy – Report