EURUSD Daily Forecast: April 19

By @ibtimes on

EURUSD Forecast

The EURUSD had a significant bearish momentum yesterday after made a clear break below 1.4350, slipped below the bullish channel and bottomed at 1.4156. The bias remains bearish in nearest term especially if price able to stay consistently below the bullish channel and 1.4156 testing 1.4035. Although remains intact, the major bullish scenario is under a serious pressure and need another move back above 1.4350 to keep the bullish scenario strong. Immediate resistance at 1.4280 – 1.4300. A clear break above that area would lead us to neutral zone in nearest term testing 1.4350.

©2011 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.

.

Join the Discussion