EURUSD Forecast

The EURUSD failed to continue its bearish momentum yesterday, topped at 1.2729 and closed at 1.2678. The bias is neutral in nearest term. Price has been moving in a wide range between 1.2729 – 1.2556 in the last two days. As long as stays inside the bullish channel and above 1.2541 my overall intraday bias remains to the upside. Immediate support is seen around 1.2641/50. A clear break below that area could trigger further bearish pressure testing 1.2541/50 region. On the upside, we need a clear break at least above 1.2750 to continue the bullish scenario testing 1.2822 or higher.

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