EUR/USD Forecast January 7

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By ltan | January 8, 2014 12:49 AM EST

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Good day forex traders and readers.

In the previous EUR/USD forecast we noted that the 1.36 pivotal level remained crucial and we should monitor the currency pair. While the Euro Zone was generally reporting good economic figures, the low volume and liquidity might be affecting momentum.

Technical Analysis

Looking at the EUR/USD 4 hourly chart above we note that the currency pair is slightly bearish since the start of the new trading week. It is once again above the strong support and resistance of 1.36.

Based on the technical observation of the chart, immediate support may be expected at 1.3580 while immediate resistance may be expected at 1.3680.

Don’t miss the fundamental analysis

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

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