EURUSD Daily Forecast: May 15

By IBTimes Staff Reporter | May 15 2012 2:21 AM

EURUSD Forecast

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The EURUSD continued its bearish momentum yesterday, bottomed at 1.2814 and closed at 1.2829. The bias remains bearish in nearest term testing 1.2800 – 1.2750/33 region before testing 1.2625 area as a part of the bearish scenario since broke below the descending triangle. Immediate resistance is seen around 1.2880 – 1.2905 area. A clear break above that area could lead price to neutral zone in nearest term but as long as stays below 1.3000 my overall intraday bias remains to the downside.

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