EURUSD Forecast

The EURUSD had a significant bearish momentum yesterday, broke below the triangle formation as you can see on my daily chart below and fell below 1.4000 key support area, hit 1.3931 earlier today in Asian session. This fact is a part the bearish continuation scenario since the false breakout above the triangle last week and could trigger further bearish scenario at least testing 1.3850 and 1.3750 region. Immediate resistance is seen around 1.4000 – 1.4050 area. A clear break above that area would lead us to neutral zone in nearest term but overall I still prefer a bearish scenario at this phase.

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