EURUSD Technical Analysis on Daily Chart – 5th January 2016
EURUSD – On the daily time frame, we see the pair still trading within the pennant that we have identified in our earlier posts.
The bottom of the pennant has provided support and so is the Purple pivot.
A retrace back higher could be in the works.
A close and break below the pennant will change the outlook to the bearish side.
MACD is also trading the zero line and is showing us that a bullish momentum is still possible.
Good luck and trade well!