EURUSD Daily Forecast: May 03
Living in East Java, Indonesia and holding International Relations degree, Setyo Wibowo began his forex trading career by joining Fortune Channel Investment in 2000 as a market analyst, while learning to trade forex independently on his own. Driven by his desire to share his trading experiences and ideas, Setyo joined the FX Instructor team in 2008. Setyo Wibowo is now living in Mojokerto, East Java, Indonesia.
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EURUSD Forecast The EURUSD slipped above the range area yesterday as you can see on my hourly chart below, topped at 1.4901 but further bullish momentum was rejected and closed lower at 1.4793. There are no changes in my daily technical outlook. The major scenario remains bullish but still in consolidation phase and need a clear break from the range area to see clearer intraday direction. I still prefer a bullish scenario and expect an upside break out still targeting 1.5000, but a clear break below 1.4767 could trigger further downside pullback testing 1.4647 support area.
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