EURUSD  Forecast

The EURUSD was still able to maintain its bearish bias yesterday and hit 1.2654 earlier today. There are no changes in my technical outlook. The bias remains bearish in nearest term testing 1.2625 – 1.2586 region as a part of the bearish scenario after broke below the descending triangle and 1.3000. Immediate resistance is seen around 1.2758. A clear break above that area could lead price to neutral zone in nearest term. We haven’t seen significant bullish correction in the last three weeks so any upside pullback now is normal but overall I still prefer to sell on rallies.

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