EURUSD Forecast
The EURUSD was indecisive yesterday, formed a Doji on daily chart as you can see on my daily chart below. A Doji that appeared after a downtrend could signal a potential bullish reversal especially if followed by a bullish candlestick, called a bullish Doji. I still prefer a bearish scenario at this phase, but need a clear break below 1.0592 to continue the bearish scenario targeting 1.0500 area. Aggressive traders can buy with a tight stop loss below 1.0592. On the upside, key resistance is seen around 1.0800. A clear break and daily close above that area would confirm the bullish reversal scenario. Fundamental focus today will be on German Ifo Business Climate and US Prelim GDP q/q and CB Consumer Confidence.
