In our yesterday’s EURUSD analysis we expected price to bounce from 1.3840-60 area, which is did quite rapidly, but didn’t quite reach 1.4100 as it found Resistance at 1.3950 area. Overall market is laying relatively slow as the anticipation of upcoming announcement from the Euro Zone is growing.
Lets look at Daily chart:
Yesterday’s EURUSD Daily candle finished in Doji which quite clearly represents mixed market sentiment at this stage. Our outlook is still bullish based on weekly chart analysis and we expect price to move up in hope that European policymakers will come up with some form a grand solution regarding the debt crisis.
We will remain flat until announcements are made from Euro Zone. Once the news comes out we will start to look for trades. Overall we will remain bullish until price moves below 1.3800.
To help you keep ahead of others we will post the news release as it happens on our Twitter account.