EURUSD Forecast
The EURUSD plunged to a fresh 2018 low at 1.1834 yesterday. Price broke below the support line of the bearish channel as you can see on my H1 chart below, suggests further bearish run. The bias remains bearish in nearest term testing 1.1750 support area (weekly EMA 200). Immediate resistance is seen around 1.1895. A clear break above that area could lead price to neutral zone in nearest term testing 1.1935/50 region but overall I remain bearish and any upside pullback should be seen as a good opportunity to sell.

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One thought on “EURUSD Daily Forecast: May 09”

  1. Freddie Rice says:

    That sure did look bearish. But how bearish? There’s a bunch of chop in that area (look at daily back to the end of last year), You’d have to monitor the hell out of this trade.

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