EURUSD Daily Forecast: November 07

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By swibowo | November 7, 2012 6:21 PM EST

Fx Instructor

EURUSD Forecast

The EURUSD had a bullish momentum earlier today hit 1.2873 after failed to break below 1.2750 key support area. Price also back above the daily EMA 200 as you can see on my daily chart below. We have no confirmation of bearish reversal scenario. The bias is neutral in nearest term. Immediate resistance is seen around 1.2885 followed by 1.2925. On the downside, we need a clear break and daily/weekly close below 1.2750 to confirm the bearish reversal scenario.

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