EURUSD Forecast

The EURUSD had a significant bullish momentum last week and now slipped above the triangle as you can see on my h4 chart below. This fact could lead us to a new bullish phase not only testing 1.4695 – 1.4750 this week but also open the door for a retest of 1.4939 region. The bias remains bullish in nearest term. Immediate support at 1.4500. A clear break below that area could lead us to neutral zone in nearest term but only a break below 1.4450/00 support area could stop the current strong bullish intraday outlook.

©2011 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.