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EURUSD Daily Forecast: May 16

EURUSD Daily Forecast: May 16
Friday, May 16th, 2014 @ 1:53 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 attempted to push lower yesterday, bottomed at 1.3647 but whipsawed to the upside and closed higher after touched the daily EMA 200 as you can see on my daily chart below. The bias is neutral in nearest term. Immediate resistance remains around 1.3730. A clear break above that area couuld trigger further bullish pressure testing 1.3775 – 1.3800. On the downside, the daily EMA 200 and 1.3650 remains a key support. A clear break and daily close below that area could trigger further bearish scenario at least testing 1.3500.

eurusddaily

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