EURUSD Daily Forecast: October 08

EURUSD Forecast
The EURUSD continued its bearish momentum last week bottomed at 1.1463 but closed a little bit higher at 1.1519. The bias is neutral in nearest term but overall I remain bearish as a part of the bearish scenario after printed a bearish pin bar at EMA 200 on September 24 as you can see on my daily chart below. Immediate resistance is seen around 1.1530/50. A clear break and daily close above that area would interrupt the bearish phase testing 1.1600/50 region. Immediate support is seen around 1.1463 (last week’s low). A clear break and daily close below that area would resume the bearish run testing 1.1430 before targeting 1.1300 region.