EURUSD Forecast
The EURUSD was indecisive yesterday, formed a Doji on daily chart, but hit another fresh low at 1.0834 since formed the shooting star formation as you can see on my daily chart below. The inverted hammer (bullish)scenario I told you yesterday is no longer valid but we didn’t see a convincing bearish momentum either. The bias is neutral in nearest term. Immediate resistance is seen around 1.0900. A clear break above that area could trigger further bullish pressure testing 1.0962 area or higher. On the downside, 1.0800 remains a key support. A clear break and daily close below that area would potentially continue the bearish scenario testing 1.0700 – 1.0600 region. Fundamental focus will be on the US NFP number on Friday.
