[m.youssif]

EURUSD Forecast
The EURUSD continued its bearish momentum yesterday, bottomed at 1.3446 after made a clear break below 1.3560/70 support area. The bias remains bearish in nearest term targeting 1.3333 this week especially if price able to move consistently below 1.3500. I don’t see significant technical support between 1.3500 – 1.3333 so unless we have fundamental/economic number surprises, the journey to 1.3333 should be relatively smooth. Immediate resistance at 1.3570. Break above that area could trigger further upside pullback testing 1.3650 – 1.3700 resistance area. We have no significant bullish rebound since bearish momentum from 1.4230 on November 05 so any upside pullback is normal but overall we are still in strong bearish phase.

[m.youssif]

EURUSD Forecast
The EURUSD continued its bearish momentum yesterday, bottomed at 1.3446 after made a clear break below 1.3560/70 support area. The bias remains bearish in nearest term targeting 1.3333 this week especially if price able to move consistently below 1.3500. I don’t see significant technical support between 1.3500 – 1.3333 so unless we have fundamental/economic number surprises, the journey to 1.3333 should be relatively smooth. Immediate resistance at 1.3570. Break above that area could trigger further upside pullback testing 1.3650 – 1.3700 resistance area. We have no significant bullish rebound since bearish momentum from 1.4230 on November 05 so any upside pullback is normal but overall we are still in strong bearish phase.