EURUSD Weekly Forecast Jan 18 2016

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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…

For today: As long as 1.0730/1.0779 support holds on a daily closing basis, the EURUSD remains in a recovery mode and further upside couldn’t be ruled out towards the 1.0890 levels, above 1.0890 will extend recovery towards 1.1095 levels. a failure to take out the 1.0890 levels could mean a return to the 1.0779/1.0730 levels…

 

EURUSD Weekly Forecast Jan 18 2016

MARKET DATA

UPCOMING ECONOMIC EVENTS