EURUSD – Intraday Forecast 22 Jan 2014 (Under Pressure)
Recommendations: SHORT positions below 1.3582 with 1.3540 & 1.3516 as next targets.
Alternative scenario: The upside breakout of 1.3582 will bring rebound to 1.3620/1.3650.
Description: Intraday bias in EURUSD is on the downside as long as resistance 1.3582 holds on an hourly basis with risk towards 1.3540 ahead of 1.3515 levels, below 1.3515 would open 1.3470 next. On the upside, break of 1.3582 on an hourly basis (4 hour is better ) would reverse risks to the upside towards 1.3620/1.3650 levels.