EURUSD Forecast

The EURUSD slipped above the range area yesterday as you can see on my hourly chart below, topped at 1.4901 but further bullish momentum was rejected and closed lower at 1.4793. There are no changes in my daily technical outlook. The major scenario remains bullish but still in consolidation phase and need a clear break from the range area to see clearer intraday direction. I still prefer a bullish scenario and expect an upside break out still targeting 1.5000, but a clear break below 1.4767 could trigger further downside pullback testing 1.4647 support area.

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