EURUSD Forecast

The EURUSD was indecisive yesterday and now struggling around 1.3800 key level. After two days of strong bullish momentum on Monday and Tuesday, any correction/consolidation movement is normal and overall the technical bias still more to the upside especially if price able to make another clear breakout above 1.3860 still targeting 1.4000 resistance area this week before testing 1.4200 – 1.4300. On the downside, a clear break below 1.3700 could be a threat to the bullish outlook as a false breakout scenario could be produced, not only could lead us back to range condition but also open the door for further bearish pullback testing 1.3500 key support area. I will stand aside for now but still prefer a bullish scenario and expecting another strong breakout to the upside to reactivate my bullish mode.

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