EURUSD Forecast:

The EURUSD was indecisive yesterday. On h1 chart below we can see that price moves in range area of 1.3417 – 1.3507 indicating consolidation after bullish correction on Friday. The bias is neutral in nearest term. The major trend remains bearish but the fact that price so far still able to move consistently above 1.3450 area still indicating potential further upside correction testing the upper line of the major bearish channel. We need a break from the range area to see clearer direction. Break above 1.3507 could trigger further upside correction testing 1.3600 area while a break below 1.3417 not only could trigger further bearish momentum testing 1.3340 but potentially end the bullish correction phase testing 1.3250 and 1.3100 region.

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