EURUSD Daily Forecast: May 19 2016

EURUSD Daily Forecast: May 19 2016

19 May 2016, 06:27
Roberto Jacobs
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EURUSD Daily Forecast: May 19 2016

EURUSD Forecast   

As expected, the EURUSD had a bearish momentum yesterday bottomed at 1.1214. The bias remains bearish in nearest term as a part of the shooting star bearish scenario as you can see on my daily chart below, testing the daily EMA 200 located around 1.1185 area. A clear break and daily close below the daily EMA 200 could trigger further bearish pressure testing the lower line of the bullish channel and 1.1100 – 1.1050 support area. Immediate resistance is seen around 1.1275. A clear break above that area could lead price to neutral zone in nearest term testing 1.1325/50 area.

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