EURUSD: Halts Declines, Attempts Recovery

Trading Discussion News and Economy
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EURUSD: With a recovery higher triggered, EUR could see further upside in the days ahead. However, while holding below the 1.3161 level, there is risk of a return to the downside towards the 1.2966 level. Further down, support lies at the 1.2875 level and then the 1.2800 level. In order for the pair to resume its broader medium term uptrend, it will have to return above the 1.3434 level. Above here will pave the way for a run at the 13519 level followed by its major resistance standing at the 1.3716 level. A turn above here should force further upside towards the 1.3800 level. All in all, EUR continues to retain its corrective downside bias.

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Agree with your last line. "All in all, EUR continues to retain its corrective downside bias."
I’d like to see retest of the Dec 7th low support before weighing in on the possibility of an uptrend.

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Well before we take the move upwards, we got to wait for the early December established support level.

weekly move eur.jpg700×363 21.4 KB


Watch out for the reaction around that support zone. The fundamental are also playing
a big role in moving the market and with such a move seen on the DOWJONES last week an upward is
a possibility .
Nice post.
Grix