EURUSD Daily Forecast: May 23 2016
EURUSD Forecast
The EURUSD continued its bearish momentum last week bottomed at 1.1179 as a part of the shooting star bearish scenario as you can see on my daily chart below. The bias remains bearish in nearest term especially if price able to make a clear break below the daily EMA 200 located around 1.1180 region testing the lower line of the bullish channel and 1.1100 – 1.1050 area which is a good place to buy with a tight stop loss. Immediate resistance is seen around 1.1275. A clear break above that area could lead price to neutral zone in nearest term testing 1.1315 area.
