EURUSD Forecast:

The EURUSD was closed higher at 1.4139 on Friday. I still prefer a bearish scenario but the rejection to move below 1.4030/00 support area could trigger further upside correction testing 1.4200 – 1.4250 at this phase. As you can see on my h4 chart below, we have a minor bearish channel (aqua) indicating that technically we are still in bearish view. A violation to that minor bearish channel and a break above 1.4250 key resistance level should be seen as serious threat to the bearish outlook, testing 1.4450 and the major bearish channel (red). Immediate support at 1.4110 area. Break below that area should trigger further downside pressure testing key support 14030/00 area.