EURUSD Forecast:

The EURUSD continued its bearish momentum yesterday. On h1 chart below we can see that the minor bullish channel has been violated to the downside which potentially end the bullish correction at this phase. The bias is bearish in nearest term especially if price break below 1.2590 support area targeting 1.2523/00 key support level. Initial resistance at 1.2730. Break above that area could trigger another upside pullback testing 1.2800 region but overall the main scenario should remain bearish.

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