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EURUSD Daily Forecast: February 19

EURUSD Daily Forecast: February 19
Tuesday, February 19th, 2013 @ 6:01 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. There are no changes in my technical outlook. A quick look at the hourly chart reveals that price has been moving sideways between 1.3400 – 1.3300 since Friday and need a clear break from the range area to see clearer direction. Price is still in a bearish correction phase but as long as stays inside the bullish channel the major bullish scenario should remain valid. A clear break and daily close above 1.3400 could trigger further bullish pressure testing 1.3485 or higher. On the other hand, a clear break and daily close below 1.3300 could trigger further bearish correction testing 1.3250 or lower testing the lower line of the bullish channel.

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