EURUSD Forecast

The EURUSD had a significant bearish momentum yesterday, closed below 1.3085 and broke below the trend line support as you can see on my h4 chart below and hit 1.3006 earlier today. This fact ends the bullish outlook and changes my intraday bias to a bearish view targeting 1.2880. Immediate resistance is seen around 1.3085 – 1.3100 (former support). A clear break back above that area could lead price to neutral zone in nearest term as direction would become unclear.

©2012 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.

.