EURUSD Forecast

The EURUSD continued its bearish momentum yesterday bottomed at 1.3010 and hit 1.3003 earlier today. The bias remains bearish in nearest term testing 1.3000 – 1.2973. Immediate resistance is seen around 1.3050. A clear break above that area could lead price to neutral zone in nearest term testing 1.3100 – 1.3150 but any upside pullback now is normal and overall I still prefer a bearish scenario at this phase with short on rallies strategy as a part of the double top bearish scenario. On the downside, a clear break and daily close below 1.3000 – 1.2973 could trigger further bearish pressure testing 1.2880 area.

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