EURUSD Forecast
The EURUSD attempted to push higher last week topped at 1.1378 but whipsawed to the downside and closed lower at 1.1115. As you can see on my hourly chart below, the bullish channel has been violated suggests a bearish outlook. The bias is bearish in nearest term testing 1.1050. A clear break below that area could trigger further bearish pressure testing 1.0950. Immediate resistance is seen around 1.1180. A clear break above that area could lead price to neutral zone in nearest term testing 1.1250. Overall I still prefer a bearish scenario at this phase.
