EURUSD Forecast:

After the failure of the falling wedge bullish pattern, the EURUSD continued its bearish momentum yesterday, bottomed at 1.3504, closed at 1.3525 and keep moving lower around 1.3480 at the time I wrote this comment. This fact should continue the major bearish scenario targeting 1.3400 this week. Clear break below that area should trigger further weakness for the Euro towards 1.3100 area in longer term point of view. Immediate resistance at 1.3535 area. Break above that area should lead us into no trading zone in nearest term but I prefer a bearish scenario with sell on rallies strategy at this phase.