EURUSD Forecast

The EURUSD had a significant bearish momentum yesterday, bottomed at 1.3208 and closed at 1.3223 after made a false breakout from the range area as you can see on my h4 chart below. The bias is bearish in nearest term testing 1.3170. The false breakout scenario indicates that we have a good probability that price may keep going south testing 1.2968 but need a clear break below 1.3170 to confirm that scenario. Immediate resistance at 1.3270. Break above that area could lead us to neutral zone in nearest term but I think overall the pressure is more to the downside.

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