EURUSD Daily Forecast: May 10

By @ibtimes on

EURUSD Forecast

The EURUSD attempted to push lower yesterday, bottomed at 1.4253 but closed higher at 1.4367 made a Doji on daily chart. The bias is neutral in nearest term. On hourly chart below we can see since the breakdown below the range area price still making lower highs indicated that the bearish phase should remain intact, still targeting 1.4150 – 1.4000 support area. Immediate resistance at 1.4375 followed by 1.4438. The major bullish scenario remains intact but I think we would need a clear break at least above 1.4518 to see further bullish pressure which could end or at least pause the current short term strong bearish correction outlook.

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