EURUSD Forecast:

The EURUSD attempted to push lower yesterday, bottomed at 1.2175 but closed higher at 1.2249. On h4 chart below we can see that price still moving inside the bearish channel indicating the major bearish scenario remains intact but surely under significant pressure since failure to consistently move below 1.2150 support area. A violation to the bearish channel and movement above 1.2350 could be seen as potential bearish failure, at least in nearest – medium term testing 1.2450/70 area even back to 1.2671 region. On the downside, only another movement below 1.2150 could resume the major bearish scenario towards 1.2000.

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