EURUSD Forecast:

The EURUSD had volatile but unclear movement yesterday. Price attempted to push lower, bottomed at 1.3676 but closed higher at 1.3734 and keep moving higher around 1.3770 at the time I wrote this comment. On h4 chart below we can see that price still move inside the minor bullish channel indicating the bullish correction scenario targeting 1.3850 in nearest term remains intact. Immediate support at 1.3650 area. Break below that area should trigger further bearish momentum re-testing 1.3550 region.

While technical view is unclear, on fundamental side, traders will focus on the EU plan for a rescue package for Greece in Brussels summit today. As reported by Bloomberg, Luxembourg Prime Minister Jean-Claude Juncker said that “I am having several discussions at the moment so that we can come up with an answer that will satisfy the markets,” If the summit able to provide such answer, Euro is likely to continue its bullish correction. But if not, Euro should suffer further losses.