EURUSD Daily Forecast: May 27 2016
The EURUSD had a bullish momentum yesterday topped at 1.1216 and now struggling around the daily EMA 200 as you can see on my daily chart below. It is too early to say that the shooting star bearish scenario is over, but the bias is bullish in nearest term testing 1.1275. Immediate support is seen around 1.1150. A clear break below that area could lead price to neutral zone in nearest term testing 1.1100 – 1.1050 and the lower line of the bullish channel which remains a good place to buy with a tight stop loss. On the upside, a clear break and daily/weekly close above 1.1275 would potentially end the bearish scenario. Daily CCI is struggling to move above -100 line suggests a potential bullish reversal scenario.