EURUSD Forecast

The EURUSD was volatile but indecisive yesterday. Price attempted to push higher, slipped above the triangle, topped at 1.4516 but whipsawed to the downside and hit 1.4388 earlier today in Asian session. This fact keeps price in consolidation phase and overall there are no changes in my technical outlook and need a clear break from the triangle to see clearer direction. As you can see on my hourly chart below price still moving inside a bullish channel since the bullish run after touched the lower line of the triangle suggests that the intraday bullish bias remains intact and only a clear break back below 1.4370 and the bullish channel would cancel the intraday bullish bias testing 1.4330/00 which would reopen the door for another retest of the lower line of the triangle. Immediate resistance is seen around 1.4450 region. A clear break back above that area could trigger further bullish pressure retesting the upper line of the triangle.

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