EURUSD Forecast
The EURUSD had a bearish momentum yesterday bottomed at 1.2297. The bias is bearish in nearest term testing 1.2200 – 1.2175 support area. Immediate resistance is seen around 1.2355. A clear break above that area could lead price to neutral zone in nearest term testing 1.2400/50 area but key resistance remains at 1.2537. My major bullish outlook remains valid but price has been moving back and forth in a 360-pip range area for eight weeks now and we need a clear break above 1.2537 to resume the major bullish trend. On the other hand, a clear break below 1.2175 and the trend line support would invalidate the major bullish trend. Fundamental focus today will be on the US NFP number.

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