EURUSD Weekly Forecast Jan 12 2015

Outlook in EURUSD remains on the downside as long as 1.2000/1.2220 resistance holds on a weekly closing basis , support comes at the 1.1800 levels , a halt is likely , but a cut will bring sell-off  towards the 1.1500 levels ahead of the 1.1350 levels .

On the upside , resistance comes at the 1.2000 levels ahead of the 1.2220 levels (main) , break of the 1.2220 levels on a weekly closing basis is needed to signal short term bottoming ,If seen , risk will be reversed towards the 1.2376/1.2613 levels before the next fall.

In all , as long as 1.2000/1.2220 resistance holds on a weekly closing basis , outlook in EURUSD remains on the downside towards the 1.1800 levels ahead of the 1.1500 levels , a clear break above the 1.2220 levels will turn outlook neutral towards the 1.2376/1.2613 levels before the next fall.

 

EURUSD Weekly Forecast Jan 12 2015

 

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