EURUSD Forecast:

The EURUSD attempted to push lower yesterday, slipped below the minor bullish channel but whipsawed to the upside, topped at 1.2007 and closed at 1.1971. The pair is a little bit mess technically in nearest term but overall the major bearish scenario remains strong as long as price stay below 1.2150 region. Immediate resistance at 1.2000 – 1.2050 region. Consistent move above that area could trigger further upside recovery testing 1.2150 area. On the downside we need a consistent move below the minor bullish channel to continue the bearish scenario towards 1.1800 and 1.1600 this week.

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