EURUSD Forecast:

The EURUSD continued its bullish momentum yesterday. On h4 chart below we can see that price is now struggling around the upper line of the major bearish channel indicating critical technical phase as a break above the bearish channel could be seen as bearish failure and a beginning of bullish phase. Immediate support at 1.3520/30. Break below that area should keep the bearish scenario intact testing 1.3450. Initial resistance at 1.3650/80 area. Break above that area could trigger further bullish momentum testing 1.3750 even 1.3817 as bullish reversal scenario confirmed. Fundamental focus today will be on US NFP. A good result may support the Dollar and keep the bearish scenario intact while a bad result may support the bullish reversal scenario.

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