EURUSD Forecast    
The EURUSD had a bearish momentum yesterday and hit 1.0660 earlier today. As you can see on my H1 chart below, price slipped below the bullish channel and now struggling around 1.0670 support area. The bias is bearish in nearest term especially if price able to make a clear break below 1.0670 targeting 1.0600 before testing 1.0500 region. Immediate resistance is seen around 1.0725. A clear break back above that area could lead price to neutral zone in nearest term testing 1.0770 – 1.0800 but overall I remain bearish and any upside pullback should be seen as a good opportunity to sell. Fundamental focus today will be on German/Euro Zew Economic Sentiment and US CPI/Core CPI which are expected to be a market catalyst.

eurusdhourly

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.