EURUSD Forecast
The EURUSD was indecisive yesterday. Price attempted to push higher, slipped above 1.2395 resistance area but closed lower at 1.2367. The bias is neutral in nearest term. We have a bearish pin bar printed around a resistance as you can see on my H4 chart below, suggests a potential false breakout bearish scenario. There is also a potential “M” shaped pattern in the making. Immediate support is seen around 1.2335. A clear break below that area could trigger further bearish pressure testing 1.2298 region but major key support remains at 1.2175. Immediate resistance is seen around 1.2413. A clear break above that area would invalidate the bearish pin bar scenario testing 1.2475 region. Overall, as long as stay above 1.2175 my major technical outlook remains bullish but price has been trapped inside a 360-pip range area between 1.2537 – 1.2175 for more than three months now.

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