We are in bearish mode on EURUSD currency pair
Here is the illustrations and snapshots for EURUSD Forecast and technical analysis December 15 2014.
EURUSD monthly technical analysis and forecast
On the monthly chart of EURUSD currency pair we can see a monthly fibo 50 level and this is also the price level 1.2100. This is strong support. Till that support EURUSD is suppose to fall. At the same time we can see that Fibo 50 level and the red trend line also created a trend line. A definite break of 1.2100 level will make a triangle break and can drive us to a massive EUR fall.
EURUSD weekly technical analysis and forecast
Last week candle is bullish but it was unable to beat the previous bear candle. So for us the pair is suppose to fall.
EURUSD technical analysis and forecast on H4 chart
EURUSD technical analysis and forecast on H1 chart
On the h1 char of EURUSD we can see a starting of a new bullish trend. BUT if we compare it with higher time frame we can consider that this is a fake bull trend. But no one knows this might be the start of new bullish trend on EURUSD currency pair.
YELLOWFX team is bearish on EURUSD currency pair. But as we can see a bull trend on H1 time frame, we will be choosy to go for a short entry.
Team YellowFX will be strongly bearish on AUDUSD currency pair till 0.8000 price level.