EURUSD Forecast

The EURUSD had another volatile but indecisive movement yesterday. There are no changes in my technical outlook and the bias remains neutral both in nearest and medium term. Downside pressure seems limited and as long as moving above 1.3000, bullish pullback testing the upper line of the descending triangle is still wide open. But overall I still prefer a bearish scenario. Immediate resistance is seen around 1.3180. A clear break above that area could trigger further bullish pressure testing 1.3211 – 1.3240.

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