EURUSD Daily Forecast Jan 26 2016

EURO-Dollar-min

With EURUSD may have turned lower to halt its upside offensive last Friday, the EURUSD will have to hold losses below the 1.0788 levels to push the market for further downside losses If seen, support comes at the 1.0730 levels where price hesitation is very likely, If 1.0730 get exposed, next support comes at the 1.0630 levels, further down, support comes at the 1.0565 levels.

Alternatively; a failure to hold below the 1.0788 levels could mean a return to the 1.0876 levels couldn’t be ruled out, If this important resistance is taken out, outlook will turn bullish and further upside towards the 1.0990 levels is likely, next resistance comes at the 1.1095 levels…

Conclusion: The EURUSD continues to face downside threats below the 1.0876 levels (cautiously), above 1.0876 will turn outlook bullish and open the 1.0990 levels ahead of the 1.1095 levels…

Notes:

1-According to weekly timeframe: the pair remains in a recovery mode as long as trades above the 1.0461/1.0567 levels and further upside towards the 1.1104 levels couldn’t be ruled out, so….break of the 1.0876 levels on a daily closing basis will open weekly target at the 1.1104 levels even in the case of a pullback….

2- On the 4-hour timeframe, the pair is bullish as long as trades above the 1.0824 levels on a 4-hour closing basis, below 1.0824 may expose the 1.0788 levels, above 1.0824 may take out the 1.0876 levels….

 

EURUSD Daily Forecast Jan 26 2016

 

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