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EURUSD Daily Forecast: July 06

Premium Market Reports by FXTechStrategy

EURUSD Daily Forecast: July 06
Monday, July 6th, 2009 @ 12:58 am by Setyo Wibowo

About 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 Daily Forecast

The EURUSD had a moderate bearish momentum on Friday. On h4 chart below we can see that the trendline support has been violated to the downside. Surely we do not have significant movement so far as the pair has been showing no clear direction in the last several weeks but this fact should lead us into more downside pressure testing 1.3750 key level area. Immediate resistance is seen at 1.4050. CCI about to cross the -100 line down on h4 chart suggesting potential downside pressure.

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