EURUSD Forecast

The EURUSD continued its bearish momentum yesterday, bottomed at 1.3106 and closed at 1.3142. The bias remains bearish in nearest term testing 1.3000 support area. Immediate resistance is seen around 1.3200 followed by 1.3240/50. Only a clear break and daily close back above 1.3240 could stop the current bearish outlook after the strong break below the bullish channel as you can see on my h4 chart below.

©2012 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.

.