EURUSD Daily Forecast: May 20 2016

EURUSD Daily Forecast: May 20 2016

20 May 2016, 06:55
Roberto Jacobs
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EURUSD Daily Forecast: May 20 2016

EURUSD Forecast   

The EURUSD was indecisive yesterday and now struggling around the daily EMA 200 support as you can see on my daily chart below. The bias remains bearish in nearest term but note that we need a clear break below the daily EMA 200 and 1.1185 to continue the bearish scenario testing the lower line of the bullish channel and 1.1100 – 1.1050 region which is a good place to buy with a tight stop loss. Immediate resistance is seen around 1.1230. A clear break above that area could lead price to neutral zone in nearest term testing 1.1275 – 1.1315 region.

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