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| EUR/USD Daily Forecast
Mon, July 21 2014 | Dear Fellow Trader,
Setyo Wibowo here with the latest daily forex update from the FX Instructor Forex Blog.
If you have any questions about today's update - please reply to this email and I will be happy to help. Enjoy!
| The EURUSD had a bearish momentum last week, slipped below 1.3500 but unable to stay consistently below that area so far. The bias is neutral in nearest term. We have a hammer candlestick formation on hourly chart after the false breakdown below 1.3500 suggests a potential upside pullback, but as long as stays inside the bearish channel I still prefer a bearish scenario at this phase with nearest target seen around 1.3400. Immediate resistance is seen around 1.3540. A clear break above that area could trigger further bullish pressure testing 1.3580 and the upper line of the bearish channel. Please click here to see the chart. |
| | I hope you enjoyed today's forex update! If you have any questions or suggestions, reply to this email - or visit me at the FX Instructor Blog.
Happy Trading! | | | | | | | |