EURUSD Forecast
The EURUSD failed to continue its bullish momentum yesterday bottomed at 1.0924. The bias is bearish in nearest term testing 1.0850 support area. Immediate resistance is seen around 1.0980. A clear break above that area could lead price to neutral zone in nearest term testing 1.1050 area. From H4 chart perspective as you can see on my H4 chart below price is on a bullish phase. First, price broke above a trend line resistance and had a nice bullish run. Secondly, price formed a bullish flag and had another nice bullish run. My major technical outlook remains neutral, but we have a good technical reason of potential bullish scenario challenging a major trend line resistance. This bullish scenario can only be interrupted by a clear break below 1.0800 key support. Fundamental focus today will be on US retail sales, PPI and consumer sentiment data.
