EURUSD Forecast

The EURUSD didn’t make significant movement yesterday. There are no changes in my technical outlook. Looks like the pressure is more to the upside since Monday, with key intraday support around 1.4350, but the upper line of the triangle and 1.4500 resistance area still hold so far, keep price unclear in consolidation phase inside the triangle. The bias remains neutral in nearest term. On the downside, a clear break below 1.4350 could trigger further bearish pullback testing 1.4250 and the lower line of the triangle. On the upside, a clear break above the triangle and daily close above 1.4500 could lead price to further bullish scenario testing 1.4695 region.  Aggressive intraday traders can still take the advantage of the current ranging market, short around the upper line of the triangle and 1.4500 or long around 1.4250 and the lower line of the triangle with tight stop loss as a break from the triangle could lead price to a new trending situation.

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