EURUSD Forecast:

The EURUSD failed to continue its bullish momentum on Friday. The major bearish channel still hold so far indicating the major bearish scenario remains intact but the bullish correction also still intact as price still move inside the minor bullish channel (white channel). We need a violation to one of those channels to see clearer direction. Violation to the bearish channel could be seen as potential bearish failure and a new bullish phase targeting 1.3817 and 1.4000 area while violation to the bullish channel could end the bullish correction phase testing 1.3100 area. Immediate resistance at 1.3569 (March 23 high). Break above that area could trigger further bullish momentum towards 1.3650 and could be a serious threat to the bearish scenario. Initial support at 1.3450. Break below that area could be seen as the end of the bullish correction and continue the major bearish scenario.

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