Analysis and forecasts for EUR / USD 01/28/16

FX:EURUSD   Euro Fx/U.S. Dollar
The outlook for EUR / USD:

On Wednesday, there was an attempt to breach the resistance at 1.09 but without success. At the moment there has been a breaking of the downward channel , but it could be another false breakout. Therefore, we should consider the analysis of two ways.

If you believe that the breakout is actually in the coming hours, the course should turn around in the vicinity of the upper limit of the channel (1.0845) and the demand side will head back toward the 1.09 level and 1.0945. (There is a possibility that further increases will occur from the current price level, towards the level of 1.0945). Please note that we are still in sideways and just beat the 1.0945 level, will indicate the direction in the medium term.

Alternative Version assumes that Wednesday's killing was a trap, and once again the supply side will lead to a return to the interior of the channel. In this case, the aim seems to be a level of 1.08 in case of his defeat support at 1.0778.
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