EURUSD Daily Forecast: May 24

By IBTimes Staff Reporter | May 24 2012 1:21 AM

EURUSD Forecast

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The EURUSD continued its bearish momentum yesterday, bottomed at 1.2544 and closed at 1.2560. There are no changes in my technical outlook. The bias remains bearish in nearest term testing 1.2500 area. Immediate resistance is seen around 1.2641. A clear break above that area could lead price to neutral zone in nearest term but any upside correction now is normal and overall I remain bearish as a part of the bearish scenario after fell below the descending triangle and 1.3000 support area.

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