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EURUSD Daily Forecast: February 14

EURUSD Daily Forecast: February 14
Thursday, February 14th, 2013 @ 9:16 am by Setyo Wibowo

About Setyo Wibowo:

Setyo Wibowo Living in East Java, Indonesia and holding International Relations degree, Setyo Wibowo began his forex trading career by joining Fortune Channel Investment in 2000 as a market analyst, while learning to trade forex independently on his own. Driven by his desire to share his trading experiences and ideas, Setyo joined the FX Instructor team in 2008. Setyo Wibowo is now living in Mojokerto, East Java, Indonesia.

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EURUSD Forecast    
The EURUSD attempted to push higher yesterday slipped above 1.3500 but whipsawed to the downside, closed at 1.3443 and hit 1.3381 earlier today. This fact keeps the bearish correction phase remains strong and turns my nearest term bias back to a bearish view testing 1.3350/00. Immediate resistance is seen around 1.3450. A clear break above that area could lead price to neutral zone in nearest term as direction would become unclear. On the upside, we still need a clear break and daily close above 1.3500 to potentially end the bearish correction phase. As long as stays inside the bullish channel my major technical outlook remains to the upside and it’s too early for a bearish reversal scenario.

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