EURUSD Forecast
The EURUSD was indecisive last week. Price attempted to push higher topped at 1.2476 but whipsawed to the downside and closed lower at 1.2320. Price is moving inside a rising wedge formation as you can see on my H4 chart below. The bias is neutral in nearest term probably with a little bearish bias testing the support line of the rising wedge located around 1.2280 which is a good place to buy with a tight stop loss as a clear break below 1.2280 would confirm the rising wedge bearish scenario testing 1.2175 key support. Immediate resistance is seen around 1.2360. A clear break above that area could trigger further bullish pressure testing 1.2400/20 area. My major outlook remains bullish but price is still trapped inside a 360-pip range area between 1.2537 – 1.2175 for 11 weeks now.

Rising wedge chart pattern: eur/usd

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One thought on “EURUSD Daily Forecast: April 02”

  1. Bruk Teffera says:

    I like your plan William but one thing to keep in mind, Euro already tested 1.2280 area and bounced. i dont believe we will retest that area again. now next resistance is wm3/mm3 cluster. it we fail there, then we definitely will break thru 1.2280. now look for the fight at 1.2370-1.24 area.

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