EURUSD Forecast

The EURUSD continued its strong bearish momentum yesterday, bottomed at 1.2721 and closed at 1.2723. There are no changes in my technical outlook. The bias remains bearish in nearest term testing 1.2625 region. Immediate resistance is seen around 1.2800/15. A clear break above that area could lead price to neutral zone in nearest term but any upside pullback now is normal. Price also slipped below a major trend line support on weekly chart, suggests potential further bearish scenario. Technically, on short, medium and long term time frame the EUR/USD looks pretty bad.

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