EUR/USD Forecast January 6

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By ltan | January 5, 2014 11:49 PM EST

Fx Instructor

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TheGeekKnows.com Learn Forex Trading and read exclusive EUR/USD Forecast and AUD/USD Forecast Reviews.

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.

Technical Analysis

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.

Don’t miss the fundamental analysis

continue on to TheGeekKnows.com for the fundamental analysis of the EUR/USD Forecast Weekly Review to understand more about the underlying market sentiments.

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