EURUSD Forecast:

The EURUSD had a bullish momentum yesterday, topped at 1.4266 and closed at 1.4234. On h4 chart below we can see that the price is struggling around upper line of the bearish channel indicating a critical technical point. Surely the trendline support has been proved as a strong support preventing further bearish attack, but the upper line of the bearish channel, (which also a trendline resistance) still hold so far and not convincingly violated to the upside yet. From this perspective, actually we have no winner yet so don’t rush buying the Euro now. Immediate support at 1.4180/50 support area. Break below that area should trigger further bearish momentum back towards 1.4050 area. Initial resistance at 1.4270. Break above that area and consistent move above the trendline resistance (upper line of bearish channel) should trigger further upside pressure testing key level 1.4336 and could be a potential threat to my bearish reversal scenario.