EURUSD Forecast:

The EURUSD continued its bearish momentum yesterday, slipped below 1.4000 but price still unable to consistently move below 1.4000 so far. The bias is bearish in nearest term with potential bearish target around 1.3750 this week but we need a consistent move below 1.4000 to continue the bearish momentum. Immediate resistance at 1.4070/90 and the upper line of the minor bearish channel (see h4 chart below). A violation to the upside of the minor bearish channel should lead us back into the range area of 1.4250 – 1.4000/30 area.