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EURUSD Daily Forecast: February 07

EURUSD Daily Forecast: February 07
Thursday, February 7th, 2013 @ 10:41 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 failed to continue its bullish momentum yesterday. There are no changes in my technical outlook. As long as stays inside the bullish channel my overall technical bias remains to the upside but nearest term bias remains neutral. Important intraday range to be closely watched remains between 1.3600 – 1.3450. We need a clear break above 1.3600 to keep the bullish scenario remains strong testing 1.3700 area or higher. On the other hand, a clear break below 1.3450 could continue the bearish correction phase testing 1.3400 or lower. CCI is back in neutral zone on daily chart.

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