EURUSD Daily Forecast: May 18

By @ibtimes on

EURUSD Forecast

The EURUSD had a bullish momentum yesterday, topped at 1.4275 and hit 1.4286 earlier today in Asian session after failed to make a clear break below 1.4123 support area. On hourly chart below we can see the minor bearish channel has been violated to the upside suggests potential intraday bullish view testing 1.4338. My medium bearish outlook since the fall from 1.4939 remains intact, but a clear break above 1.4338 could trigger further upside pullback testing 1.4440. Immediate support at 1.4200. A clear break below that area would change the intraday bias back to bearish retesting 1.4123 and keep the bearish scenario remains strong testing 1.4000 strong/psychological support area.

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