EURUSD Forecast

The EURUSD was indecisive last week, moved in range area of 1.3200 – 1.3060 and price still in critical technical phase, struggling around the trend line support. The major outlook remains bearish, but still need a clear break below the trend line support and 1.3060 support area to continue the bearish scenario targeting 1.2968 – 1.2920. CCI in neutral area and above zero line on h4 chart suggests limited downside pressure so far. On the upside, clear break above 1.3200 could trigger further upside pullback testing 1.3250 – 1.3300 resistance area which could open the door for further upside consolidation during the remaining days of 2010.

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