EURUSD Forecast

The EURUSD had a bearish momentum yesterday, bottomed at 1.4128 but bounced higher earlier today in Asian session hit 1.4246. The bias is neutral in nearest term. There are no changes in my overall technical outlook where price remains indecisive but still in a bearish correction phase with lower highs since the fall from 1.4939. On h4 chart below we can see price is moving inside a symmetrical triangle also suggests consolidation phase and need a clear break from the triangle to see clearer direction. Immediate resistance is seen around 1.4250 region. A clear break above that area could trigger further upside pullback testing 1.4300 – 1.4350 region. On the downside, another movement back below 1.4150 would open the door for another downside attempt testing the lower line of the triangle and 1.4054 support area. A clear break below the triangle would trigger further bearish scenario.

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