EURUSD Technical Analysis on Daily Chart – 28th January 2016
EURUSD – On the daily time frame, we can see that the pair is consolidating in a pennant. A breakout from the pennant is required to establish some bias.
At this juncture the pair is oscillating within the pennant. Traders might want to employ a swing trading approach to trade this pair.
A breakout to the upside and we can see the pair targeting the 38.2 Fibo level.
A break below and we may see the pair retesting the last low near the 1.05 region.
All the best to your trading!