EURUSD Forecast

The EURUSD had a significant bullish momentum on Friday, topped at 1.3438 and closed at 1.3412. Price is now in critical phase and struggling around the upper line of the bearish channel. The bias is neutral in nearest term. We are still in bullish phase now but I think we need a clear break above 1.3438 to continue the bullish scenario testing 1.3500 which could be an early signal of a bullish reversal targeting 1.3700. Immediate support at 1.3280. Break below that area could trigger further bearish momentum testing 1.3200 which could be an early indication of a false breakout scenario and continue the bearish scenario testing 1.2920.

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