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EURUSD Daily Forecast: October 12

EURUSD Daily Forecast: October 12
Thursday, October 12th, 2017 @ 1:10 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 continued to trade higher yesterday slipped above 1.1850 resistance area and traded just above my bearish correction zone as you can see on my daily chart below. The bias remains bullish in nearest term but I need a clear break above 1.1900 to give further confirmation that the bearish correction phase is no longer valid targeting 1.2000 – 1.2090 region. Immediate support is seen around 1.1850. A clear break and daily close back below that area would keep the bearish correction phase remains intact. Overall I remain bullish.


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