EURUSD Forecast

The EURUSD continued its bullish bias yesterday, slipped above my descending triangle as you can see on my daily chart below, hit 1.4436. This fact is a serious threat to the bearish phase since the fall from 1.4939, keep the bullish intraday bias remains strong testing July 03 high at 1.4577. This bullish momentum is a part of the bullish warning since the appearance of the hammer formation on July 12th and the rejection to move below 1.3850 support area last week. Immediate support is seen around 1.4330 followed by 1.4281. A clear break below 1.4281 would stop the current bullish intraday outlook and could create a bearish pressure as we could have another false breakout above the triangle.

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