EURUSD Forecast

The EURUSD had a significant bearish momentum yesterday, broke below the bullish channel, bottomed at 1.3212 and hit 1.3182 earlier today. The bearish momentum occurred after a failure to break above 1.3400 key resistance which is the daily EMA 200. Price is now moving below EMA 200 on hourly, h4 and daily chart suggests a bearish view. The bias is bearish in nearest term testing 1.3130 before retesting 1.3000. Immediate resistance is seen around 1.3240. A clear break above that area could lead price to neutral zone in nearest term testing 1.3300.

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