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EURUSD Daily Forecast: March 12

EURUSD Daily Forecast: March 12
Monday, March 12th, 2018 @ 4:40 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 last week. Price attempted to push higher topped at 1.2445 but whipsawed to the downside and closed lower at 1.2303. The bias is neutral in nearest term probably with a little bearish bias. Immediate support is seen around 1.2270. A clear break below that area could trigger further bearish pressure testing 1.2175 and the trend line support area. Immediate resistance is seen around 1.2360. A clear break above that area could trigger further bullish pressure retesting 1.2445 region. My major bullish outlook remains valid but price has been trapped between 1.2537 – 1.2175 range area for eight weeks now and we need a clear break from that range area to see clearer direction.

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