EUR USD confirms the break – Analysis -26/01/2015
Economies.com
2015-01-26 06:03AM UTC
The EURUSD pair closed the weekly candlestick below 1.1415 level, which provides more support to the bearish overview on the short term and medium term basis, as we are waiting to test the psychological barrier 1.1000 in the upcoming sessions, being aware that we need to monitor the price behavior when reaching it, as breaking this level will extend the correctional decline to reach 76.4% Fibonacci level for the entire bullish wave –from 0.8562 to 1.6032- at 1.0325.
Overall, the bearish bias will remain valid and active as long as trading is below 1.1270.
Expected trading range for today is between: 1.1000 support and 1.1270 resistance.
Expected trend for today: Bearish
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