EURUSD Forecast

The EURUSD had a significant bearish momentum yesterday. As you can see on h4 chart below, the broadening formation has been violated to the downside and break below 1.4050 suggests potential bearish outlook. This fact should trigger further bearish momentum testing 1.3870 and even key level 1.3750. However CCI in oversold area and heading up on h4 chart so watch out for potential upside pullback testing 1.4050 and 1.4120 resistance area. Break above 1.4120 should be seen as bearish scenario failure.