We are in bearish mode on EURUSD currency pair
Here you can find the forex forecast for EURUSD currency pair, as well as the EURUSD technical analysis for 5th of January 2015. We mostly use images so that you can visualize the existing scenario or price action chart by your own yes and can verify the logic behind our illustrations.
The EURUSD pair is currently experiencing super support that is 1.2000 that is just below the upward monthly fibonacci 50.0 level. It seems all these support is broken we just need few confirmation candle to go for a short entry on this currency pair. On the weekly chart, some strong bear candle that is breaking the 1.2000 level.
On the monthly chart of EURUSD pair, that its breaking the current 1.2000 support level and market is falling with force and it will continue the down trend unless there is a big fundamental changes for EURO or USD.
Team YellowFX is bearish on EURUSD currency pair. Most of the charts shows that the market is trying to break that monthly 50 Fibonacci level. Still its unable to break that level. Today market will get a new monthly candle and it will break the level.