EURUSD Forecast:

The EURUSD continued its bullish correction yesterday. On h1 chart below we can see that price is ready to test the minor trendline resistance indicating critical technical point at this phase. A break above the trendline and consistent move above 1.2150 resistance area could trigger further recovery testing 1.2325 region. On the bearish side, we have a rising wedge formation indicating potential bearish view especially if the formation violated to the downside testing 1.2000 and the lower line of the bullish channel. Note that we still need a violation to the bullish channel to end this upside correction phase.

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