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EURUSD Daily Forecast: January 12

EURUSD Daily Forecast: January 12
Friday, January 12th, 2018 @ 8:19 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 strong bullish momentum yesterday topped at 1.2058 and hit 1.2075 earlier today. This fact invalidates the bearish pin bar scenario printed on Wednesday as price breaks above the tail of the bearish pin bar as you can see on my daily chart below. The bias is bullish in nearest term retesting 1.2090 key resistance. A clear break and daily/weekly close above that area would reactivate my bullish mode testing 1.2175 – 1.2220 region next week. Immediate support is seen around 1.2045. A clear break below that area could lead price to neutral zone in nearest term testing 1.2000 area.

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