EURUSD Update, 1.12 target on break of the 1.1060

January 4, 2016

EURUSD, Daily

For the moment, EURUSD remains in the 1.08 – 1.1060 range since mid December 2015. The pair is bouncing off the 50 SMA in the wake of the mucky Chicago ISM report. I remain with the view that the underlying trend is bearish, however, over the medium term prices may be setting up a recovery towards the 1.12′s on a potential clean break of the 1.1060′s.

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