EURUSD Forecast

The EURUSD continued its bullish correction yesterday, topped at 1.2584 and closed at 1.2575. There are no changes in my technical outlook. Price is still in a bullish correction phase now, but as long as stays below 1.2641 the major bearish trend should remain intact and the current bullish momentum should be seen as a normal correction. The bias is bullish in nearest term. Immediate support is seen around 1.2500. A clear break below that area could lead price to neutral zone in nearest term and we still need a clear break below the minor bullish channel and/or a daily close at least back below 1.2400 to end the bullish correction and continue the bearish scenario.

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