EURUSD Forecast    
The EURUSD continued its bearish momentum yesterday bottomed at 1.0843. The bias remains bearish in nearest term testing 1.0800. A clear break and daily close below that area could trigger further bearish pressure testing 1.0650 region. Immediate resistance is seen around 1.0900. A clear break above that area could lead price to neutral zone in nearest term testing 1.0950/70 but overall I remain bearish and any upside pullback should be seen as a good opportunity to sell. From a daily chart perspective as you can see on my daily chart below, price has been moving inside a corrective bullish channel but failed to make a clear break and consistent movement above the EMA 200 before fell below the bullish channel suggests a potential major bearish trend continuation challenging 1.0650 – 1.0460 region.

eurusddaily

FX Instructor Forex Blog – For Traders, By Traders

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.