EURUSD (Jul 25-29)

After EURUSD broke the upward channel, it looks to be bearish trend now. It is now hitting at the support level (1.0976). Let’s watch this area for next week. If it broke the support line at 1.0976, let’s wait for it come back a bit then short EURUSD till ~1.08. It might bounce back at 1.0976 and if it doesn’t penetrate through the resistance line at ~1.12, then we can short EURUSD at that position. The SL should put above the resistance lines.

The forecast is valid for two weeks. Let’s check it out next week.

Don’t rush! Be prepared with plans!

EURUSD_JUL24_2016

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