EURUSD Daily Forecast Jan 16 2015

Outlook in EURUSD remains on the downside as long as 1.1703 resistance holds on a 4 hour closing basis , a failure to hold above the 1.1703 levels could mean a return to the 1.1567 levels , a halt is likely but a cut will open 1.1500 next , further down will target the 1.1450/1.1400 levels..

On the upside , sustained trading above the 1.1703 levels will turn outlook neutral and open the 1.1766 levels before the next fall , If this resistance is taken out , further upside towards the 1.1850/1.1885 levels will be in sight..

In all , as long as 1.1703 resistance holds on a 4 hour closing basis , outlook in EURUSD remains on the downside towards the 1.1567 levels ahead of the 1.1500 levels , above the 1.1766 levels will turn outlook neutral towards the 1.1885 levels before the next fall…

 

EURUSD Daily Forecast Jan 16 2015

MARKET DATA

UPCOMING ECONOMIC EVENTS