EURUSD Forecast    
The EURUSD had a significant bullish momentum yesterday, topped at 1.1387. There are two important technical points. First, the bearish pin bar scenario is no longer valid. Secondly, we have a bullish engulfing pattern as you can see on my daily chart below, which is a serious threat to the bearish scenario. The bias is bullish in nearest term testing the trend line resistance and 1.1430 area. A clear break above 1.1430 would target 1.1500 key resistance area. Immediate support is seen around 1.1325. A clear break below that area could lead price to neutral zone in nearest term but only a clear break below 1.1267 would invalidate the bullish engulfing scenario retesting 1.1215 key support area.


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