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EURUSD Daily Forecast: May 08
EURUSD Forecast
The EURUSD was indecisive yesterday. Price attempted to push higher topped at 1.3131 but closed lower at 1.3075. The bias remains neutral in nearest term. Important range to be closely watched remains between 1.3160 – 1.3036. Immediate support is seen around 1.3070. A clear break below that area could trigger further bearish pressure testing 1.3036 which needs to be clearly broken to the downside to continue the H&S bearish scenario testing 1.3000 – 1.2950 key support area. On the upside, a clear break above 1.3130 could trigger further bullish pressure testing 1.3160 which needs to be clearly broken to the upside to interrupt the H&S bearish scenario testing 1.3220 – 1.3250 key resistance area. My major technical outlook is neutral.
Source: http://www.fxinstructor.com/blog/eurusd-daily-forecast-may-08-2
