EURUSD Forecast

The EURUSD was corrected lower yesterday and fell below 1.4400 earlier today in Asian session. The bias is bearish in nearest term testing 1.4350 but note that overall price is still in a major strong bullish outlook since the break above 1.4035 and I think the current short term bearish bias is only a normal correction. A clear break below 1.4350 could trigger further bearish consolidation testing 1.4300 – 1.4250. On the upside, we need a clear break above 1.4450 to end this bearish correction phase and continue the bullish scenario at least retesting 1.4500 – 1.4550.

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