EURUSD Forecast:

The EURUSD had a limited bearish momentum yesterday. The pair attempted to push lower, bottomed at 1.4103 but closed a little bit higher at 1.4145. On h4 chart below we can see that the pair is now testing the trendline support. The bias is neutral in nearest term but I am expecting a clear breakdown below that trendline support and continue further bearish momentum at least toward 1.4000 area before re-testing 1.3750 in longer term. CCI about to cross the -100 line up on h4 chart suggesting potential upside rebound testing 1.4180 – 1.4220 resistance. Immediate support at 1.4100 area. Break below that area should trigger further bearish momentum.

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