EURUSD Daily Forecast: May 20

By @ibtimes on

EURUSD Forecast

The EURUSD attempted to push lower yesterday but again, found a good support around 1.4200 and hit 1.4336. On hourly chart below we can see after violated the bearish channel (red), price is now moving in a bullish channel (white) suggests a bullish intraday outlook. It’s too early to say that the bearish outlook since the fall from 1.4939 is over now, but intraday bias should remain to the upside testing 1.4440 especially if price able to make a clear break above 1.4338. On the downside, the lower line of the bullish channel and 1.4200 provide a key intraday support. A clear break below that area could be a threat to the bullish intraday outlook retesting 1.4120 even 1.4000.

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