EURUSD Daily Forecast

The EURUSD had a significant bearish momentum yesterday. The pair break below key support level 1.3790, bottomed at 1.3755 but closed a little bit higher at 1.3801. On daily chart below we have a head and shoulder formation suggesting a potential bearish reversal scenario with 1.3790 as the neckline. However we need consistent move below 1.3790 area to confirm the bearish scenario targeting 1.3650 in nearest term. CCI just cross the -100 line up on hourly chart so watch out for potential upside pressure testing 1.3850 – 1.3900 resistance area. Break above that area should take us into no trading zone.