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EURUSD Daily Forecast: February 18

EURUSD Daily Forecast: February 18
Monday, February 18th, 2013 @ 5:14 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 last week but overall still able to maintain its bearish correction bias. As long as stays inside the bullish channel the major bullish scenario should remain valid but nearest term bias remains bearish testing 1.3300. A clear break and daily close below that area could trigger further bearish correction testing 1.3250 or lower testing the lower line of the bullish channel as a key support at this phase. Immediate resistance is seen around 1.3370. A clear break above that area could lead price to neutral zone in nearest term testing 1.3400/25.

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