EURUSD Daily Forecast: May 03

(Before It's News)

EURUSD Forecast    
The EURUSD had a bearish momentum yesterday bottomed at 1.3037. As you can see on my daily chart below, we have a shooting star formation followed by a bearish candle suggests a potential bearish reversal or at least a pause in bullish phase. The bias is bearish in nearest term testing 1.3000 and the daily EMA 200. A clear break and daily/weekly close below that area could trigger further bearish scenario. Immediate resistance is seen around 1.3100. A clear break above that area could lead price to neutral zone in nearest term testing 1.3150 but we need a clear break above 1.3250 to continue the bullish scenario testing 1.3320 or higher. Fundamental focus today is on the US NFP number.

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