The EURUSD continued its bearish momentum yesterday after breakdown from the triangle, bottomed at 1.2981, closed at 1.2988 and keep moving lower around 1.2977 at the time I wrote this comment. The bias is bearish in nearest term targeting 1.2880 - 1.2850 area especially if price continue to push lower and break below 1.2920 support area today. Immediate resistance at 1.3060/50 area. Break above that area could trigger further minor bullish correction testing 1.3130 region but overall the main scenario remains to the downside.
Please click here to see how I applied my technical studies to this pair on the daily chart a few minutes ago"
Showing posts with label daily. Show all posts
Showing posts with label daily. Show all posts
Tuesday, May 4, 2010
EUR/USD Daily Technical Forecast(5-May-2010)
The EURUSD continued its bearish momentum yesterday after breakdown from the triangle, bottomed at 1.2981, closed at 1.2988 and keep moving lower around 1.2977 at the time I wrote this comment. The bias is bearish in nearest term targeting 1.2880 - 1.2850 area especially if price continue to push lower and break below 1.2920 support area today. Immediate resistance at 1.3060/50 area. Break above that area could trigger further minor bullish correction testing 1.3130 region but overall the main scenario remains to the downside.
Please click here to see how I applied my technical studies to this pair on the daily chart a few minutes ago"
Please click here to see how I applied my technical studies to this pair on the daily chart a few minutes ago"
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