EURUSD Forecast

The EURUSD continued its bearish momentum last week, cl0sed below 1.2700 as a part of the bearish continuation scenario after broke below the minor bullish channel as you can see on my h4 chart below. The bias remains bearish in nearest term testing a major support, the 200 monthly EMA which located around 1.2500. Immediate resistance is seen around 1.2730/50. A clear break above that area could trigger further bullish pullback testing 1.2800/57 but any upside pullback now is normal and as long as stays below 1.3000 my overall technical bias remains strongly to the downside.

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