EURUSD Forecast:

The EURUSD attempted to push lower on Friday, bottomed at 1.3531 but closed higher at 1.3617, formed a hammer candlestick pattern on daily chart as I showed you in my weekly report on Saturday. On my h4 chart below we have another potential bullish correction pattern, a falling wedge. The bias is neutral in nearest term. Although overall the bearish scenario should remains intact and I still prefer sell on rallies strategy, we may have some upside pullback. Immediate resistance at 1.3700 – 1.3750. Break above that area and consistent move above the falling wedge could trigger further bullish correction testing 1.3850 area. On the downside, only a break below 1.3531 could be seen as bullish correction scenario failure and continue the bearish scenario targeting 1.3400 area. CCI just cross the -100 line up on h4 chart suggesting potential upside pullback.