Forex Weathermap - EURUSD

13:35 GMT (Global-View.com) Jan 17 – The pattern in the first two weeks of the year has been a short-lived correction followed by a new low. Here we are in the third week and the market is trying to correct again but so far stymied by 1.28. For a correction to get legs, it would need to break this pattern along with last Friday’s 1.2878 retracement high. Note 1.2819 = 76.4% of last Friday’s 1.2878-1.2623 range. Daily Jay Meisler’s Forex WeatherMap Jan 17, 2012 EURUSD (Current rate: 1.2778, O/N Range 1.2647-1,2809 Bias: Overall remains bearish but chasing the lows has not worked as the market seems to be in a one step up, two steps down pattern. Given how one-sided this boat has become, one cannot rule out a short squeeze but market would need to be forced into it by a break of the pattern noted above. There is little worth noting within 1.27-1.28. Range: Resistance 1.2900 1.2878 1.2820 1.2750 1.2700-20 1.2285 Support