EURUSD Forecast

The EURUSD failed to continue its bullish correction yesterday, bottomed at 1.2409 but closed higher at 1.2460 and hit 1.2504 earlier today. As you can see on my h4 chart below, price is still moving inside a minor bullish channel suggests a bullish correction phase. However, any correction now is normal and unless we have a movement above 1.2641 I still prefer to sell on rallies. On the downside, we need a clear break at least below the minor bullish channel and/or a daily close below 1.2400 to end the current correction phase and continue the major bearish scenario at least retesting 1.2287 area.

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