EURUSD Daily Forecast

The EURUSD made indecisive movement last week, formed a Doji formation on weekly chart. We know that the price has been showing no clear direction for the last 5 weeks now and the market has been difficult to trade, but I hope we will see significant movement this week. On weekly chart below we can see that the price is now testing the bullish channel. Violation to the downside should potentially set up a bearish view especially if the key support level 1.3750 is breached to the downside. Immediate support is seen at 1.3850. Initial resistance at 1.4050.