EURUSD Daily Forecast: January 08

EURUSD Forecast
The EURUSD was indecisive last week. Price is moving inside a range area between 1.2090 – 1.2000 as you can see on my daily chart below. Overall I remain bullish but need a clear break above 1.2090 to resume the major bullish trend targeting 1.2175 – 1.2220 region. The bias is neutral in nearest term probably with a little bullish bias testing 1.2090 key resistance area. On the downside, 1.2000 – 1.1960 remains a key support at this phase. A clear break below that area would be a serious threat to the major bullish outlook as a double top formation (bearish reversal) scenario could be in the making.