EURUSD Weekly Forecast Jan 11 2016


Medium term outlook in EURUSD is neutral at the moment, the pair remains in a recovery mode as long as trades above the 1.0567/1.0461 levels on a weekly closing basis, and further upside towards the 1.1104 levels couldn’t be ruled out further upside, resistance comes at the 1.1466 levels.

On the downside, support comes at the 1.0807 levels, a clear break below the 1.0807 levels will build strong pressure on the 1.0567/1.0461 levels, however; a cut through the 1.0461 levels will restore the downside momentum and open the 1.0200/1.0100 levels…

Conclusion: The EURUSD continues to face recovery threats above the 1.0461/1.0567 levels in the medium term forecast…

EURUSD Weekly Forecast Jan 11 2016