EURUSD Daily Forecast: April 18
EURUSD Forecast
The EURUSD attempted to push higher yesterday topped at 1.0670 but closed a little bit lower at 1.0642. The pair is still traded in narrow range. The bias remains neutral in nearest term probably with a little bullish bias testing 1.0700 region. Price is still in a bearish phase since the false break above 1.0873 but still respecting the trend line support as you can see on my H4 chart above. Immediate support is seen around 1.0615 followed by 1.0575 which needs to be clearly broken to the downside to continue the bearish phase testing 1.0500 area. On the upside, a clear break and daily close back above 1.0700 would expose 1.0873 key resistance once again. Overall I remain neutral.
Source: http://fxinstructor.com/blog/eurusd-daily-forecast-april-18-5
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Right now, I guess it will be wait and watch scenario on this pair with Elections happening, it will be interesting to see how Euro reacts. I would prefer to go for short here, as that looks best bet. I always play it safe which is easier thanks to OctaFX and with their 50% deposit bonus. They even have got Islamic account where I am not required to worry about paying overnight charges and are something that really keeps me comfortable.