EURUSD Daily Forecast
The EURUSD failed to continue it’s bullish momentum yesterday. The pair was unable to stay above 1.4176 area bottomed at 1.3988 and closed at 1.4002. The Greenback was in fact supported by risk aversion following worse than expected NFP data. Technically on h4 chart below, the trendline support has been violated to the downside indicating potential bearish outlook. The failure to stay above 1.4176 and trendline support violation could trigger further weakness for the Euro. The bias is bearish in nearest term testing 1.3850 area but medium term trend remains unclear as the pair still trapped in 1.4176 – 1.3750 area. Immediate resistance is seen at 1.4050. Break above that area should trigger further upside scenario re-testing 1.4176.
Do you think it will go up or down?
they said its gonna go up…but its going down…:S:S:S
so wats gonna happen on monday
[...] swibowo wrote an interesting post today onEURUSD Daily <b>Forecast</b>: July 03 – FX Instructor <b>Forex</b> BlogHere’s a quick excerpt [...]
[...] swibowo wrote an interesting post today onEURUSD Daily Forecast: July 03 – FX Instructor <b>Forex</b> BlogHere’s a quick excerpt [...]