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EURUSD Daily Forecast: May 15

EURUSD Daily Forecast: May 15
Tuesday, May 15th, 2018 @ 4:03 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 attempted to push higher yesterday topped at 1.1996 but closed lower at 1.1926, printed a bearish pin bar on the daily chart, suggests a bearish scenario. The bias is bearish in nearest term. From an hourly chart perspective as you can see on my H1 chart below, price is testing the lower/support line of a bullish channel located around 1.1925 region. A clear break below the bullish channel would give further confirmation to the bearish pin bar scenario and reactivate my bearish mode retesting 1.1820 area. Immediate resistance is seen around 1.1970. A clear break above that area could lead price to neutral zone in nearest term but would keep the bullish phase remains strong testing 1.2025/50 area.

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