EURUSD Forecast
The EURUSD had another indecisive movement last week. There is no significant movement from daily and weekly chart perspective as price is still moving sideways without clear direction between 1.2175 – 1.2537 for 13 weeks now. The bias is neutral in nearest term. From an hourly chart perspective as you can see on my H1 chart below, the H&S formation has already reached its technical bearish target. Although the H&S scenario remains valid, we need a clear break below 1.2298 to extend the bearish movement targeting 1.2250 region. Immediate resistance is seen around 1.2345. A clear break above that area could trigger further bullish pressure testing 1.2380 region (the right shoulder of the H&S). Overall, as long as stay above 1.2175 my major technical outlook remains bullish.

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