On the 3rd of January the currency pair reached the control point, triggering a reaction from the bulls close to the lower end of the boarder, the pair showed an uptrend towards the balance level of the control zones 1.06294. After a few shots, the resistance broke and the pair went further up towards the next control zone at 1.08284-1.08757. However, prior to reaching this zone the pair stopped and rebounded at the resistance on ML-2 and turned around for correction. By reaching the balance level of the control zones at 1.06294 and after testing it, the EURUSD showed an upward trend. The aim of this trend is the control zone at 1.08284 – 1.08757, which is the short zone. If the price reaches this zone and enters it, we recommend on going short.
Yesterday, during the European session, the pair created some savings on the interest rates zone at 1.06935, and after the speech by Mario Draghi, the pair received a strong upward boost and went through the zone of interest rate at 1.07329 and 1.07708, reached ML-1 and came into range. Today the pair is being traded under the zone of interest rate around 1.08021. We are forecasting a downtrend to the interest rate zone around 1.07708 and a possible continuation of an uptrend towards the interest rate zone around 1.08416. At this zone we expect a reaction of the price and propose going short. The next zone of reaction will be the interest rate zone at 1.08716. There we also have the top boarder of the control zone and the daily resistance level. Here we also recommend going short. A possible reaction can be expected at 1.06294.