Good day everyone.

I hope your trading is fine so far. It is the beginning of the week. Remember to keep cool, trade calm and have a pipful week!

In yesterday’s EUR/USD forecast we note bearish pressure for the currency pair last week and that this week may see more to come.

Looking at the EUR/USD 4 hourly chart we note that a bearish test of the 1.3 support is still a possibility. However pay close attention as the previous and current candles are bullish. If this candle closes bullish too, it may be a drift towards the 1.31 resistance. You may wish to zoom in to lower time frames like the hourly to determine short term price action.

The economic release schedule seems to be pretty light until tomorrow and hence the price action may not hit huge movements unless of any adverse events. As we can never predict fully, proper money management remains on at all times.

Trade safely.

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EUR/USD Forecast 7 Jan 13

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