EURUSD Forecast

The EURUSD continued its bullish momentum yesterday after broke above 1.3785, but again, found a strong resistance around 1.3860. Price still moves in a bullish channel as you can see on my hourly chart below suggests the intraday technical bias remains bullish but note that we need a clear break above 1.3860 to continue the bullish scenario targeting 1.4000 – 1.4250 this week. As long as price still moves below 1.3860, the h4 chart/medium outlook remains sideways between 1.3860 – 1.3420. On the downside, a consistent move back below 1.3785 and the bullish channel (blue channel) would lead us to neutral zone in nearest term testing 1.3700 support area.

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