EURUSD Daily Forecast: May 12 2016
The EURUSD had a moderate bullish momentum yesterday topped at 1.1446. This is not what I had expected, but it’s a normal movement and the shooting star bearish scenario should remain valid. The bias is neutral in nearest term probably with a little bullish bias testing 1.1500 area. Immediate support is seen around 1.1400. A clear break below that area could trigger further bearish pressure testing 1.1350 region which need to be clearly broken to the downside to keep the bearish scenario remains strong targeting 1.1275 – 1.1200 region.