EURUSD Daily Forecast

From weekly chart point of view, the EURUSD had indecisive movement last week. On daily and h4 chart, this indecisive direction showed by 2 contradicted technical patterns, H&S on the bearish side and “Flag” on the bullish side. For me, as long as we do not have valid breakout/breakdown on one of those patterns, no trade should be placed. However, once one of the pattern confirmed, do not hesitate to place your trade. Immediate resistance is seen at 1.4050. Break above that area should trigger bullish momentum towards 1.4336 area. Initial support at 1.3850 followed by 1.3750. CCI just cross the 100 line down on h4 chart suggesting a potential downside pressure.