EURUSD Forecast
The EURUSD had a moderate bearish momentum yesterday. As you can see on my H1 chart below, price slipped below the triangle/pennant formation suggests a potential bearish view but H1 EMA 200, located around 1.1050 still provides a good support so far. The bias is neutral in nearest term probably with a little bearish bias especially if price able to make a clear break below the H1 EMA 200 and 1.1050 support area testing 1.1000 or lower. Immediate resistance is seen around 1.1125. A clear break above that area could trigger further bullish pressure testing 1.1200 area. Potential daily range today is seen between 1.1000 – 1.1125.
