EURUSD Forecast:

The EURUSD had a bearish momentum yesterday, bottomed at 1.3154 but closed a little bit higher at 1.3193 and traded around 1.3209 at the time I wrote this comment. On h1 chart below we can see that price is moving in triangle formation indicating consolidation but still within a major bearish context. The bias is neutral in nearest term but the fact that price failed to continue its bullish momentum above 1.3267 – 1.3330/40 region should keep the bearish scenario intact especially if price able to break below 1.3125/15 area today testing 1.3040/50 region. On the other hand, another upside pullback above 1.3267 area could change the intra-day bias to bullish view testing 1.3330/40 region.

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