EURUSD Forecast
The EURUSD was corrected higher yesterday topped at 1.0618 but closed a little bit lower at 1.0565. The bias is bullish in nearest term testing 1.0630 – 1.0650 area but overall I remain bearish. Price is now moving in resistance area, a good place for a short position with a tight stop loss above 1.0650. Immediate support is seen around 1.0550. A clear break below that area could lead price to neutral zone in nearest term but would keep the bearish scenario remains strong testing 1.0500 – 1.0460 region. On the upside, a clear break above 1.0650 would interrupt the bearish scenario and could trigger further bullish correction.
