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EURUSD Daily Forecast: June 29

EURUSD Daily Forecast: June 29
Monday, June 29th, 2009 @ 1:21 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 Daily Forecast

The EURUSD continued it’s bullish momentum on Friday. On h4 chart below we can see that price attempted to move back below the trendline but the trendline hold so far. This fact should trigger further upside pressure in nearest term re-testing key resistance level 1.4176.  However as long as the pair stay below that area, the medium term remains unclear and for me doing nothing and wait for further development is still the best thing to do. Boring, but market will reward patient traders. Immediate support is seen at 1.4000 followed by 1.3850.  CCI in neutral area both on h4 and daily chart.

eurusd4hchart13

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