EURUSD Forecast

The EURUSD had a significant bearish momentum on Friday, break below the bullish channel as you can see on my hourly chart below and hit 1.4077 earlier today in Asian session. This fact stops the short term technical bullishness and changes my intraday bias back to bearish testing 1.4000 strong/psychological support as a part of my medium/h4 chart bearish scenario after the fall from 1.4939 which remains strong after the failure to move above 1.4340 last week. Below 1.4000, further bearish targets are seen around 1.3860 – 1.3750. Immediate resistance at 1.4140 followed by 1.4230. A clear break above 1.4230 would lead us to neutral zone in nearest term as direction would become unclear but as long as price moves below 1.4400/40 my medium bias remains bearish.

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