Forex EURUSD Analysis
The American dollar started the week firm against the other currencies. On the Euro, the bearish trend line which began last week, as shown in the chart below, has continued to hold the price down. The pair is looking bearish on all time horizons and rallies might provide another good shorting opportunity.
Feb 15, 2017
The EURUSD was indecisive yesterday but overall still able to maintain its bearish bias since broke below the bullish channel. Immediate resistance is seen around 1.0600. The steep bearish trend line is still holding the price down, with Janet Yellen’s comments sending the price plunging to the closest key support level of 1.0565 which has held so far. After the Asian session pull-back, the current action suggests the price is falling to test the level again.