EURUSD Forecast:

The EURUSD was corrected lower yesterday, bottomed at 1.5031 and closed at 1.5047. On h4 chart below we can see that after violated the bearish channel, price retreat lower towards the upper line of the bearish channel, but this is considered just as a normal technical movement and correction so far. The bias is neutral in nearest term but overall I am still in a buy mode for this pair targeting 1.5140/50 area before aim for 1.5300. Only break below 1.4950/20 area could trigger further bearish momentum re-testing 1.4850/20 key support area and major trendline support (red). Immediate support at 1.5031 (yesterday’s low) and the upper line of the bearish channel. Break below those area could trigger another bearish pressure, diminish the bullish rally, testing 1.4950/20 even 1.4820 area.