EURUSD Daily Forecast: May 16 2016

EURUSD Daily Forecast: May 16 2016

16 May 2016, 05:45
Roberto Jacobs
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EURUSD Daily Forecast: May 16 2016

EURUSD Forecast   

The EURUSD had a bearish momentum last week bottomed at 1.1282. Price reached the nearest target of the shooting star bearish scenario. I am expecting more bearish scenario testing the lower line of the bullish channel (see my daily chart below)and 1.1050 region but we may have a good support around the daily EMA 200 located around 1.1200 – 1.1185 region. The bias is bearish in nearest term testing 1.1200. Immediate resistance is seen around 1.1350. A clear break above that area could lead price to neutral zone in nearest term testing 1.1400 area.

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