EURUSD Forecast
The EURUSD was indecisive yesterday. Price attempted to push lower bottomed at 1.0777 but whipsawed to the upside and closed higher at 1.0871. The bias remains neutral in nearest term. Immediate resistance is seen around 1.0885 (H1 EMA 200). A clear break above that area could trigger further bullish pressure retesting 1.0969. Immediate support is seen around 1.0800 – 1.0777. A clear break below that area could trigger further bearish pressure testing 1.0700 area. On the upside, a clear break and daily/weekly close above 1.0969 could trigger further bullish pressure testing 1.1060 and the trend line resistance next week. As long as stays below the trend line resistance I still prefer a bearish scenario.
