Thursday 14 January 2016

Daily technical forecast for January/14

EUR/USD

Euro / dollar had another indecisive movement yesterday. Price attempted to push lower, but failed to break below the support of 1.0800 and hit 1.0896 earlier today. The short-term outlook is bullish for testing minor trend line resistance and 1.0969 as seen on the four-hour chart. A clear break and daily close above 1.0969 may trigger further bullish pressure testing 1.1060 and the major trend line resistance. Intraday support is 1.0860. A clear break below it could take price to neutral zone for re-testing 1.0800 level.


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