We are in bearish mode on EURUSD currency pair
Here is the forex forecast and technical analysis for EURUSD currency pair December 22 2014. Below you will find illustrations and technical analysis of EURUSD currency pairs on various time frame. We tried to graphically illustrate our forex technical analysis so that you can logically understand the significance of our technical analysis.
On the monthly chart of EURUSD currency pair we have drawn a monthly Fibonacci level from October, 2000. We can see that Fibonacci 50 level of October 2000 is just around 100 pips away from the current position. Market is strongly bearish for the EURUSD currency pair. Team YellowFX expecting that market will break this Fibonacci 50 level that is 1.21300 level. We will go for short on this pair but we want to have a pause of 1.21300 level and after the break of 1.21300 level we will again go for short on this pair.
On the daily chart of EURUSD currency pair we can see that market is firmly falling. As we already told our next strong support will be 1.21300 level and we have only 100 pips left to touch that level.
Team YellowFX is possessing a strongly bearish sentiment on EURUSD currency pair and Our stop loss level is above 1.2300 level and take profit level is 1.21300.