EURUSD Forecast

The EURUSD had a significant bearish pullback last week after formed the double top formation around 1.3480 and slipped below 1.3200. The bias is bearish in nearest term testing the trend line support and 1.3150 area as you can see on my h4 chart below. The bullish scenario since bounced from 1.2625 should remain intact but a clear break and daily close below the trend line support could end the bullish phase and give further confirmation to the double top bearish reversal scenario testing 1.3000 even lower. On the upside, we need a movement at least back above 1.3320 to keep the bullish phase intact retesting 1.3480 key resistance area.

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