EURUSD Forecast
The EURUSD was indecisive last week. Price attempted to push lower earlier today, slipped below the bullish (corrective) channel as you can see on my H1 chart below, but still unable to stay consistently below the bullish channel so far. Price is in a critical technical point. The lower line of the bullish channel is a good place to buy with a tight stop loss below 1.0670 with nearest target seen around 1.0800 region. Immediate resistance is seen around 1.0770. A clear break and daily close above that area could trigger further bullish correction testing 1.0800 – 1.0900 but overall I still prefer a bearish scenario at this phase and any upside pullback should be seen as a good opportunity to sell. On the downside, a clear break and daily close below 1.0670 could continue the bearish scenario targeting 1.0600 – 1.0500 region.
