EURUSD Forecast

The EURUSD made a significant bullish momentum yesterday, strongly broke above 1.3860 key resistance area and almost hit 1.4000 psychological level, topped at 1.3972. The bias remains bullish in nearest term testing 1.4000. A clear break above that area would continue the bullish pressure testing 1.4100 – 1.4150 before targeting 1.4250 – 1.4300. Immediate support at 1.3900. A break below that area would lead us to neutral zone in nearest term and only a clear break back below 1.3860 could halt the bullish view.  Compared to other major currencies like Cable and Aussie Dollar, the Euro short term bullishness against the Greenback is stronger, but the major outlook for those major currencies remains bullish.

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