EURUSD Forecast

The EURUSD continued its bearish intraday momentum yesterday, bottomed at 1.4285, which is the 61.8% Fibonacci retracement of 1.4102 – 1.4577 as you can see on my hourly chart below. Price rebounded higher earlier today in Asian session, hit the 50% Fibonacci after found a support at the 61.8% Fibonacci but overall my intraday bias remains bearish at this phase testing 1.4235 even 1.4102.  CCI in neutral zone on h0urly chart suggests potential upside pullback. Immediate resistance at 1.4400 (38.2% Fibo). I don’t expect a movement above that area for now as it would be a threat to the bearish intraday outlook. From the h4/daily chart point of view, the false breakout above the triangle should keep price in consolidation mode and created a bearish intraday outlook testing the lower line of the triangle.

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