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EURUSD Daily Forecast: May 08

EURUSD Forecast    
The Eurusd had a Bullish momentum last week, topped at 1.0998 and hit 1.1021 earlier today in Asian session. Price traded lower around 1.0970 at the time I wrote this comment but the recent Bullish Trend is likely to continue after price broke above the range area as you can see on my H1 chart below testing 1.1050 as nearest target. The bias is bullish in nearest term. Immediate support is seen around 1.0950. A clear break back below that area could lead price to neutral zone in nearest term but only a clear break back below 1.0850 would interrupt the current bullish trend testing the pre-gap level at 1.0730.

eurusdhourly



This post first appeared on FX Instructor Forex Blog - For Traders, By Traders, please read the originial post: here

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EURUSD Daily Forecast: May 08

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