EURUSD Forecast:

The EURUSD attempted to push higher yesterday, topped at 1.2921, but closed lower at 1.2851 and keep moving lower around 1.2800 earlier today in Asian market at the time I wrote this comment. On h4 chart below we can see that price break below the triangle indicating potential downside pressure testing the lower line of the bullish channel and 1.2700 key support area. Break below that area could be a serious threat to the bullish outlook. Immediate resistance at 1.2930 area. As long as the major bullish channel hold the bullish scenario remains intact but need to make consistent move above 1.2930 to make further recovery testing 1.3000 area.

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