EURUSD Daily Forecast: January 06
By swibowo | January 6, 2014 6:21 PM EST
The EURUSD had a bearish momentum last week and now testing the lower line of the bullish channel as you can see on my daily chart below, after a false breakout above 1.3850. The bias is bearish in nearest term testing 1.3550 – 1.3500. Immediate resistance is seen around 1.3615. A clear break above that area could lead price to neutral zone in nearest term testing 1.3675 – 1.3700. The major bullish scenario should remain valid but a clear break below the bullish channel and 1.3550 – 1.3500 could be an early signal of a bearish reversal scenario.