EURUSD Daily Forecast: December 07

By @ibtimes on

EURUSD Forecast

The EURUSD attempted to push lower yesterday, bottomed at 1.3246, closed at 1.3288 but traded higher earlier today in Asian session around 1.3340. This fact keep the bullish correction intact as price still moves inside the bullish channel (blue) and still struggling around the upper line of the bearish channel (red). I think we are still in consolidation and critical technical phase. The bias is neutral in nearest term. Immediate resistance at 1.3438. Clear break above that area could trigger further bullish momentum testing 1.3500 before testing 1.3700. On the other hand, break below the bullish channel and consistent move below 1.3240/00 could end the bullish correction and continue the bearish scenario testing 1.2920.

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