EURUSD Forecast
The EURUSD continued its bullish momentum yesterday topped at 1.2378. Price is moving back above the support line of the rising wedge which invalidates the rising wedge scenario as you can see on my H4 chart below. The bias is bullish in nearest term testing 1.2420/50 region. Immediate support is seen around 1.2300. A clear break below that area could lead price to neutral zone in nearest term as direction would become unclear. On the upside, a clear break and daily close above 1.2420/50 would retest 1.2537 key resistance area which need to be clearly broken to the upside to resume the major bullish trend. Price has been moving sideways inside a 360-pips range area between 1.2537 – 1.2175 for more than 12 weeks now.

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