EURUSD Forecast

The EURUSD attempted to push lower last week, bottomed at 1.2857 but closed higher at 1.2955 and hit 1.2988 earlier today in Asian session. The bias is neutral in nearest term. My overall technical bias remains to the downside and I still prefer to sell on rallies at this phase but we have a hammer candle stick formation as you can see on my daily chart below suggests potential bullish pullback especially if price able to make a clear break and daily close above 1.3000 testing 1.3075 – 1.3160 resistance area.  Immediate support is seen around 1.2915. A clear break below that area could trigger further bearish pressure retesting 1.2857 support area which needs to be broken to the downside to continue the major bearish scenario.

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