EURUSD Forecast

The EURUSD failed to continue its bearish correction yesterday after unable to stay consistently below the bullish channel and 1.4250 support area as you can see on my h4 chart below. This fact keeps the major bullish scenario remains strong. The bias is bullish in nearest term retesting 1.4518 key resistance area. Note that we need a clear break above 1.4518 to continue the bullish scenario testing 1.4700 – 1.4800 region. Below 1.4518, I think price is still in consolidation phase. Immediate support at 1.4350. A clear break below that area would lead us to neutral zone in nearest term testing 1.4300 – 1.4250 support area.

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