EURUSD Forecast

The EURUSD attempted to push higher yesterday topped at 1.3155 but still unable to break above 1.3163 resistance area so far. As long as stays below 1.3163 the bearish scenario after the break below the bullish channel should remain intact but price found a good/strong support around 1.3000 and need a clear break below that level to continue the bearish scenario. As you can see on my h4 chart below we also have a double bottom formation around 1.3030 and price keeps making higher lows and highs in the last three days. A clear break above 1.3163 could turn the nearest term bias to a bullish view testing 1.3200 – 1.3240. On the downside, we need a clear break at least below 1.3080 to keep the downside scenario remains strong retesting 1.3000 – 1.3030.

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