EURUSD Forecast

The EURUSD had a significant bullish momentum yesterday, broke above 1.3320, topped at 1.3377. This fact could trigger further bullish scenario targeting 200-daily-EMA around 1.3460 and 1.3500/30 in nearest term. Immediate support is seen around 1.3320/00 area (former resistance). A clear break back below that area could lead price to neutral zone in nearest term but any downside pullback now is normal as price is in overbought territory on 4 hour chart and as long as stays above 1.3230 (yesterday’s low) price is still in a bullish intraday phase since the failure to make a clear break below 1.3000 last week, still making higher lows and highs on daily chart which also a part of the bullish scenario since bounced from 1.2625.

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