EURUSD Daily Forecast: June 02 2016
The EURUSD had a bullish momentum yesterday and hit 1.1197 earlier today. Price slipped above the daily EMA 200 after touched the lower line of the bullish channel as you can see on my daily chart below, suggests a potential bullish reversal scenario. Daily CCI crossed above -100 line which support the bullish view. The bias is bullish in nearest term testing 1.1250 – 1.1300 region. Immediate support is seen around 1.1150. A clear break back below that area could lead price to neutral zone in nearest term retesting the lower line of the bullish channel and 1.1100 – 1.1050 area which remains a good place to buy with a tight stop loss.