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EURUSD Forecast
The EURUSD continued its bullish momentum on Friday, topped at 1.3494 and closed at 1.3488 after break out above my minor bearish channel indicating potential further bullish scenario especially if price able to make another strong break out ab0ve 1.3500 targeting 1.3700. Note that 1.3500 could be an important and strong resistance area at this phase since it is the 50% Fibonacci retracement of 1.5140 – 1.1876 , so I think we need a clear break above that area to continue the bullish momentum. Another bearish pullback after testing 1.3500 area on Friday is normal and another minor bearish channel could be formed, but overall we are still in strong bullish bias unless price break below the major bullish channel (white). ...

EURUSD Weekly Summary: Three consecutive breakouts lead Euro higher, more to come
The EURUSD continued its bullish run this week. Price closed higher on weekend after break out above the minor bearish channel, topped at 1.3494. Since the strong bullish momentum which started in September 04, we have three consecutive breakouts from previous high leading the bullish momentum as you can see on h4 chart below. For the upcoming week, another strong breakout above 1.3500 (50% Fibonacci retracement of 1.5140 – 1.1876) could trigger another strong bullish momentum targeting 1.3700 and 1.3888 (61.8% Fibonacci retracement of 1.5140 – 1.1876). On the other hand, a failure to make a clear above 1.3500 could trigger some bearish correction ...

EURUSD Forecast
The EURUSD continued its bullish momentum yesterday, topped at 1.3438 and closed at 1.3393 following a strong break out above the trend line resistance on Tuesday. The bias remains bullish in nearest term testing 1.3500 area before testing 1.3700. Immediate support at 1.3333 (former resistance). Break below that area could lead us to neutral zone in nearest term testing 1.3267 but overall we are still in strong bullish phase. Fundamental focus today will be on some Euro zone Flash Manufacturing and Services PMI data and US Unemployment Claims and Existing Home Sales. Risk aversion/appetite sentiment likely to keep driving the market so good numbers could trigger further bullish momentum while bad numbers could trigger ...

EURUSD Forecast
The EURUSD had a significant bullish momentum yesterday after market react positively on FMOC statement. Although most part of the statement didn’t show significant change from the previous releases, the Fed willingness to “provide additional accommodation if needed to support the economic recovery” triggered risk appetite and push Euro higher. This positive reaction on global recovery could remain stay in the market at least in nearest future and give further support to the Euro. On daily chart below we can see price made a strong breakout above the trend line resistance indicating potential bullish continuation testing 1.3500 region especially if price able to make another break above 1.3333 (August 06 high). Immediate ...