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EURUSD Daily Forecast: July 11

EURUSD Daily Forecast: July 11
Wednesday, July 11th, 2018 @ 4:05 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 another indecisive movement yesterday. The bias is neutral in nearest term. Price attempted to push lower after broke below the neckline of the H&S formation as you can see on my H1 chart below but closed higher at 1.1744 after bounced-off the EMA 200. The technical target of the H&S pattern has been reached, but only a clear break back at least above 1.1765 would invalidate the H&S bearish scenario testing 1.1850 area. On the downside, we need a clear break below 1.1690 to resume the bearish run testing 1.1650/00 region.

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