EURUSD Forecast

The EURUSD had a bullish momentum yesterday, topped at 1.4396 and closed at 1.4353. This fact changes my intraday technical bias to a bullish mode testing 1.4500 region and the upper line of my symmetrical triangle. But note that as long as price moves inside the triangle, the overall technical outlook remains unclear and price is still in a consolidation phase, a non trending market. Immediate support is seen around 1.4250 (former resistance). A clear break back below that area could trigger further bearish pullback testing 1.4200 – 1.4150 support area. From a broader look on weekly chart we already have two Dojis suggests indecisive movement, unclear direction and inconsistent momentum in the last two weeks, and if price keep moving inside the symmetrical triangle this week, we could have the third Doji.

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