EURUSD Forecast

The EURUSD had a moderate bullish momentum last week but still unable to break above 1.3290 key resistance area so far and overall price has been moving sideways between 1.3290 – 1.3000 in the last three weeks and need a clear break from the range area to see clearer direction. As you can see on my h4 chart below price is still moving inside a bullish channel after bounced from 1.3000 suggests a bullish phase but need a clear break and daily close above 1.3290 to continue the bullish scenario testing 1.3400/80. Immediate support is seen around 1.3250. A clear break below that area could trigger further bearish pressure testing the lower line of the bullish channel and 1.3200 support area. A clear break and daily close below 1.3200 and the bullish channel could trigger further bearish pressure testing 1.3130 even 1.3000 and keep the double top bearish scenario intact.

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