EURUSD Forecast:

The EURUSD bullish correction was paused yesterday. On h4 chart below we can see that price is now testing the lower line of my minor bullish channel (red channel). As long as the minor bullish channel valid, the upside correction scenario should remains strong. On the other hand, consistent move below the minor bullish channel could lead us into no trading zone in nearest term testing the lower line of the major bullish channel (blue channel). We need a consistent move above the trendline resistance (white) to continue the bullish correction towards 1.2400/50 area. Immediate support at 1.2240. Consistent move below that area could trigger further bearish pressure testing 1.2170/50 region which could be a serious threat to the bullish correction scenario.

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