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EURUSD Daily Forecast: April 09
Wednesday, April 8, 2015 20:41
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EURUSD Forecast
The EURUSD attempted to push higher yesterday topped at 1.0886 but whipsawed to the downside and closed lower at 1.0778. The bias is bearish in nearest term testing 1.0700 region. A clear break below that area could trigger further bearish scenario testing 1.0460 as we might have an “M” formation as you can see on my H4 chart below after the failure to break above the H4 EMA 200 resistance. Immediate resistance is seen around 1.0830. A clear break above that area could lead price to neutral zone in nearest term testing 1.0885 but overall I prefer a bearish scenario at this phase with sell on rallies strategy.
Source: http://www.fxinstructor.com/blog/eurusd-daily-forecast-april-09-5
