EURUSD Forecast

The EURUSD was volatile but indecisive yesterday. Price attempted to push lower, bottomed at 1.4125 but closed higher at 1.4260. The bias is neutral in nearest term. From another technical perspective as you can see on my h4 chart below we can see price is moving inside a triangle formation indicates consolidation. I still prefer a bearish scenario at this phase and as long as price stays below 1.4320/40 my overall intraday bias remains to the downside but h4 chart and daily outlook remains unclear. Immediate support at 1.4200. A clear break below that area would change the intraday bias back to bearish retesting 1.4125 and could trigger another downside attempt for a retest of 1.4000 strong/psychological support area. On the other hand, a clear break back above 1.4320 could change the intraday bias to bullish testing 1.4440 and the upper line of the triangle.

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