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EURUSD Daily Forecast: November 23

EURUSD Daily Forecast: November 23
Friday, November 23rd, 2012 @ 7:08 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 was indecisive yesterday but overall still able to maintain its bullish intraday bias so far. Price is now struggling around 1.2885 key resistance. There are no changes in my technical outlook. The bias remains bullish in nearest term but selling around 1.2885 remains a good plan with a tight stop loss above 1.2900 targeting 1.2500 as a part of the bearish scenario after broke below the bullish channel. Immediate support is seen around 1.2850. A clear break below that area could lead price to neutral zone in nearest term testing 1.2800 or lower. On the upside, a clear break and daily/weekly close above 1.2885 will interrupt the bearish scenario, turn my medium/long term outlook to a neutral zone as direction would become unclear and keep bullish intraday bias remains strong testing 1.3000 area.

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