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EURUSD Daily Forecast: December 06

EURUSD Daily Forecast: December 06
Wednesday, December 6th, 2017 @ 2:23 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 had a bearish momentum yesterday broke below the bullish channel as you can see on my H1 chart below. This fact is a serious threat to the bullish phase, but note that we still need a clear break below 1.1800 to confirm that the bullish phase is no longer valid, testing 1.1690 region. The bias is bearish in nearest term. Immediate resistance is seen around 1.1850 – 1.1870 area. A clear break back above that area could lead price to neutral zone in nearest term but would keep the bullish phase intact testing 1.1925 – 1.1960 region. Overall I remain neutral.

eurusdhourly

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