EURUSD Forecast:

The EURUSD failed to continue its bullish correction yesterday. On h4 chart below we can see that the bullish channel has been violated to the downside indicating the end of the bullish correction phase and price ready to resume its major bearish scenario towards 1.2000 area especially if price able to move consistently below 1.2280/60 region. Although it’s obvious that technically this pair is set to push lower, note that the market remains tricky and still likely to have high volatility. Another intervention threat is still potential. Immediate resistance at 1.2440. Break above that area could trigger further bullish momentum testing 1.2500 region.

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