Daily Forex Technical Forecast (May-24-2011)
EURUSD Forecast The EURUSD continued its bearish momentum yesterday, slipped below 1.4000 psychological level but still unable to stay below that key support area so far. The bias remains bearish in nearest term especially if price able to make a clear break below 1.4000 testing 1.3860 – 1.3750 support area this week. Immediate resistance at [...]
Written on May 24, 2011 | Posted in Forex | No comment
Daily Forex Technical Forecast (May-11-2011)
EURUSD Forecast The EURUSD had another volatile but indecisive market yesterday, made another Doji on daily chart. The bias remains neutral in nearest term. Overall price is still in a bearish phase since the fall from 1.4939 but we have a violated falling wedge formation as you can see on my hourly chart below suggests [...]
Written on May 11, 2011 | Posted in Forex | No comment