EURUSD Forecast:

The EURUSD failed to continue it’s bullish momentum on Friday. On h4 chart below we can see that the upside momentum was rejected by the trendline resistance, bottomed at 1.4159 and closed at 1.4201 and now reverse, testing the trendline support. The bias is bearish in nearest term re-testing 1.4085/50 area but we all know that the trendline support has been a good support so far, so I prefer to stay out for now until we have a valid breakdown from the trendline support. Any downside rejection from the trendline support could trigger an upside momentum testing 1.4250 resistance area. Be patient and do not rush jump into the market.