EURUSD Forecast:

The EURUSD continued it’s bearish momentum yesterday, bottomed at 1.4044 and closed at 1.4069. On h4 chart below we can see that the trendline has been violated to the downside indicating bearish view but still unable to move consistently below 1.4050 area. The bias remains bearish in nearest term targeting 1.3950, but we need a clear break below 1.4050 to confirm the bearish scenario. A failure to break below that area could trigger some upside rebound momentum testing 1.4100 – 1.4150 resistance area. CCI in oversold area and heading up on h4 chart so watch out for potential upside rebound.