EURUSD Forecast
The EURUSD attempted to push lower yesterday, broke below the bearish flag as you can see on my H1 chart below, bottomed at 1.0670 but closed higher at 1.0722 and hit 1.0748 earlier today. The bias is bearish in nearest term testing 1.0650. Immediate resistance is seen around 1.0765. A clear break above that area could lead price to neutral zone in nearest term testing 1.0800 area or higher but overall I still prefer a bearish scenario at this phase and any upside pullback should be seen as a normal corrective movement and good opportunity to sell. ECB President Draghi will speak today at the Bank of England’s open forum which could be a market catalyst.
