EURUSD Forecast

The EURUSD continued its bearish momentum on Friday after a valid H&S bearish formation and now testing the lower line of my bullish channel as you can see on my hourly chart below. The bias remains bearish in nearest term especially if price able to make a clear break below the bullish channel and 1.4320 testing 1.4250 – 1.4200 before retesting 1.4000 strong/psychological support area. Immediate resistance at 1.4415. A clear break above that area would lead us to neutral zone in nearest term but as long as price moves below 1.4500 my intraday technical bias remains to the downside.

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