EURUSD Daily Forecast
The EURUSD failed to continue it’s bearish momentum yesterday. The pair topped at 1.4070 and closed at 1.4023. On daily chart below we can see that pair is now re-testing the trendline resistance. In medium term surely we still have no clear direction so far as the pair keep moving in 400 pips ranging area of 1.4176 – 1.3750 for the last 5 weeks now indicates indecisive (and boring) market. I hope we will see a clearer direction in upcoming week. Consistent move above 1.4050 should trigger further upside pressure re-testing 1.4176. Initial support at 1.3850 followed by 1.3750. CCI in overbought area and heading down on h4 chart suggesting potential downside pressure.
Thanks Setyo Wibowo as always high rate of predictions! Keep going this way!
but i see u looking real to market .i suggest to include stock analysis along with eur/usd
you draw agood trend line i am agree with you.here make is a triangleand i see euro in selling.target is 1.3400
Hi Setyo
I always thank you for your article
Have a nice week end
Ciao
thank you for your article…
I still find trades in this difficult market, by using Stop and reverse indicator with EMA crosses 15.50, to indicate /confirm ”trend change.
Have a good weekend
@redneedle: thanks. I am glad to see you here
@fred: Of course I always aware of the interaction between stock and forex market. One of FxInstructor analyst, Matt Carniol has been known as a trader who has a great knowledge and experience regarding co-relation between stock and forex market. He has written some excellent articles lately. You should check it out.
@shafqat: Thanks. Actually I also prefer downside scenario for the euro, but until we have a clear break below 1.3750, the bearish scenario is not confirmed yet. Good luck
@ciaiciao: Your welcome. Have a great weekend too
@Smi: Your welcome, and good luck with your trades
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