EURUSD Forecast
The EURUSD attempted to push lower yesterday bottomed at 1.2181 but closed higher at 1.2230. The bias remains bearish in nearest term testing 1.2175 key support area which remains a good place to buy with a tight stop loss as a clear break below 1.2175 would invalidate the major bullish trend. From another technical perspective as you can see on my daily chart below, we have a descending triangle formation which will be confirmed by a break below 1.2175 key support, targeting the daily EMA 200 located around 1.1970 region. Immediate resistance is seen around 1.2250. A clear break above that area could lead price to neutral zone in nearest term testing 1.2300 area. The descending triangle scenario will be invalidated by a movement above 1.2400.

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