EURUSD Daily Forecast Jan 22 2016

EURO-Dollar-min

With EURUSD breaking below the minor support 1.0904, short term out remains neutral but with risk towards 1.0779/1.0730 levels before the next rise, below 1.0730 faces a fall risk towards the 1.0630/1.0565 levels.

On the upside, a daily close back above the 1.0904 levels could mean a return to the 1.0990 levels, a halt is likely but a break would open  1.1095 next, further upside, resistance comes at the 1.1350 levels…

Conclusion: The EURUSD continues to face recovery threats above the 1.0730/1.0780 levels, above 1.0904 levels will accelerate the expected bullish move, below 1.0904 will keep testing 1.0780/1.0730 before the next possible rise…

On the 4-hour timeframe, the pair is neutral with possible to break higher, stability above the 1.0777 levels could mean a return to the 1.0920 levels, a break will open daily chart resistance 1.0990, below 1.0777 will open 1.0709 levels…

EURUSD Daily Forecast Jan 22 2016

 

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