EURUSD Forecast
The EURUSD attempted to push higher last week topped at 1.0967 but whipsawed to the downside and closed lower at 1.0832. As you can see on my H4 chart below price is still moving sideways without clear direction. The bias is neutral in nearest term. Immediate resistance is seen around 1.0875. A clear break above that area could trigger further bullish pressure testing 1.0969 region which remains a good place to sell. Immediate support is seen around 1.0800. A clear break below that area could trigger further bearish pressure testing 1.0750 – 1.0700 region which is also a good area to buy with a tight stop loss. Overall I still prefer a bearish scenario with sell on rallies strategy.
