EURUSD Forecast
The EURUSD had a strong bearish momentum yesterday bottomed at 1.1290. As you can see on my daily chart below, price fell back below the EMA 200, which could create a false breakout bearish scenario. The bias is bearish in nearest term especially if price able to move consistently below H1 EMA 200 located around 1.1300 targeting 1.1250 – 1.1200 region. Immediate resistance is seen around 1.1400. A clear break above that area could lead price to neutral zone in nearest term testing 1.1470 – 1.1500 area. Potential daily range today is seen between 1.1250 – 1.1400.
