EURUSD Forecast:

The EURUSD continued its bearish momentum yesterday, bottomed at 1.2804 and closed at 1.2812. The bias remains bearish in nearest term. However as you can see on h1 chart below  we have CCI divergence indicating potential upside correction but the major scenario should remain bearish. Immediate resistance at 1.2880 (former support). Break above that area could trigger further bullish correction testing 1.2940 area. Initial support at 1.2745. Break below that area could continue the bearish pressure targeting 1.2660 region.

Related Posts:

  • EURUSD Daily Forecast: February 22
  • EURUSD Daily Forecast: April 27
  • EURUSD Daily Forecast: May 05
  • EURUSD Daily Forecast: March 30
  • EURUSD Forecast: Targeting 1.4450, resistance at 1.4680 – 1.4715 area
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