EURUSD Forecast

The EURUSD had a significant bullish momentum yesterday, topped at 1.4281 after the appearance of the hammer candle stick formation on the daily chart on Tuesday and now back inside the triangle as you can see on my daily chart below. While my daily/h4 technical view is a little bit mess as price made both false breakout/down from the triangle, from another technical perspective the current strong bullish pullback is a rebound from a trend line support (white) and 38.2% Fibonacci retracement area of 1.1875 – 1.4939 which keep the long term bullish scenario intact. The bias is bullish in nearest term testing 1.4367 region. Immediate support is seen around 1.4150 – 1.4100 region. A clear break below 1.4100 could trigger further bearish scenario retesting 1.4000 , 1.3850 and the trend line support.

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