EURUSD Daily Forecast: May 13 2016
The EURUSD had a moderate bearish momentum yesterday and hit 1.1366 earlier today. Although we haven’t seen a significant bearish movement and overall price has been moving sideways without clear direction since Monday, the shooting star bearish scenario remains valid with nearest target seen around 1.1275 – 1.1200 region. Immediate resistance is seen around 1.1450 followed by 1.1500. There will be some high impact US economic data release today (retail sales, consumer sentiment, PPI) so we can expect good movement in the US market.