EURUSD Daily Forecast: April 18

on April 18 2012 3:25 AM

EURUSD Forecast

The EURUSD was volatile but indecisive yesterday. The bias is neutral both in nearest and medium term and direction remains unclear. Overall there are no changes in my technical outlook. As long as stays below 1.3211 – 1.3240 I still prefer a bearish scenario. Immediate support is seen around 1.3089 (yesterday’s low). A clear break below that area could trigger further bearish pressure retesting 1.3000 strong support area. On the upside, a clear break back above 1.3150 could trigger another bullish attempt testing 1.3211 – 1.3240 area.

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