EURUSD Forecast

The EURUSD had a bearish momentum yesterday after made a clear break below 1.3281 and hit 1.3160. The bearish movement is a part of the bearish scenario after formed the double top formation around 1.3520/30 and the break below the bullish channel as you can see on my h4 chart below. The bias is bearish in nearest term testing 1.3145 support area. A clear break below that area could trigger further bearish pressure testing 1.3000 psychological support. Immediate resistance is seen around 1.3281 (former support/low). A clear break above that area could lead price to neutral zone in nearest term but only a clear break at least above 1.3420/00 area could postpone the current bearish intraday scenario and I still prefer to short on rallies at this phase.

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