EURUSD Forecast
The EURUSD was indecisive yesterday. Price attempted to push higher, topped at 1.1294 but whipsawed to the downside and hit 1.1158 earlier today. The bias is bearish in nearest term testing 1.1100 area. Immediate resistance is seen around 1.1230. A clear break above that area could lead price to neutral zone in nearest term testing 1.1300 area. My overall technical outlook remains neutral but I still prefer a bearish scenario. As you can see on my daily chart below, price is moving inside a bullish corrective channel but failed to make a clear break above the daily EMA 200 suggests a potential end to the bullish corrective movement, but would need a clear break below the bullish channel (1.0950) to give further confirmation to the bearish scenario.
