As expected, the EURUSD had a Bearish momentum yesterday bottomed at 1.1132. Price closed below the daily EMA 200 as you can see on my daily chart below suggests a potential bearish view. The bias remains bearish in Nearest Term Testing the lower line of the bullish channel located around 1.1100 – 1.1050 which is a key support at this phase and a good place to buy with a tight stop loss. A clear break below the bullish channel would give us further confirmation of the bearish continuation scenario testing 1.0800 area. Immediate resistance is seen around 1.1180. A clear break above that area could lead price to neutral zone in nearest term testing 1.1225 – 1.1275 region.
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