EURUSD Forecast
The EURUSD was indecisive last week but overall still able to maintain its bearish bias, still moving below the trend line resistance and the H1 EMA 200 as you can see on my H1 chart below. The bias is neutral in nearest term. Immediate support is seen around 1.0565, a potential double bottom formation. A clear break below that area could trigger further bearish pressure testing 1.0500 area. Immediate resistance is seen around 1.0605. A clear break above that area could trigger further bullish pressure testing the trend line resistance and 1.0650 – 1.0700 region which remains a good place to sell with a tight stop loss above the trend line targeting 1.0500 area. Overall I remain bearish.
