EURUSD Forecast
The EURUSD continued its bearish momentum yesterday bottomed at 1.1112. The bias remains bearish in nearest term especially if price able to make a clear break below 1.1100 testing 1.1050. As you can see on my H4 chart below price broke below the H4 EMA 200 and a triangle formation suggests a bearish view. Immediate resistance is seen around 1.1150. A clear break above that area could lead price to neutral zone in nearest term testing 1.1210 but overall I still prefer a bearish scenario a this phase with sell on rallies strategy. A clear break below 1.1050 could trigger further bearish pressure testing the lower line of the bullish channel located around 1.0950 area. My major technical outlook remains neutral. Potential daily range today is seen between 1.1050 – 1.1210.
