EURUSD Daily Forecast

The EURUSD had a moderate bearish momentum yesterday. The pair attempted to push higher, topped at 1.4000 but closed lower at 1.3898. On h1 chart below we still have a valid minor bullish channel but bullish scenario is not confirmed yet as long as the trendline resistance hold. So, I think it’s better to keep out from the market and wait for further development. It’s not the best time to trade now since we have no convincing and clear movement during this week. Immediate support is seen at 1.3850 followed by 1.3747. Break below those area should trigger further bearish scenario towards 1.3650. Initial resistance at 1.4050. Break above that area should trigger further bullish momentum towards 1.4350. CCI in neutral area on daily chart.