EURUSD Forecast
The EURUSD had a significant bearish momentum yesterday, broke below the support line of the descending triangle formation as you can see on my daily chart below, bottomed at 1.2095. This fact not only invalidates my major bullish outlook, but confirms the descending triangle bearish scenario. The bias remains bearish in nearest term testing 1.2030/00 support area and the daily EMA 200 located around 1.1970 region. Immediate resistance is seen around 1.2150/75 region. A clear break and daily/weekly close back above that area could lead price to neutral zone in nearest term as direction would become unclear.

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