EURUSD Forecast

The EURUSD continued its bullish momentum on Friday, closed at 1.4315. As you can see on my hourly chart below price is moving inside the bullish channel suggests a bullish intraday outlook since the failure to make a clear break below 1.4000, testing 1.4340. Note that the medium/h4 chart bearish scenario since the fall from 1.4939 remains intact but a clear break above 1.4340 could trigger further upside pressure testing 1.4420 and would open the door for further upside scenario testing 1.4560 which could be a threat to the medium term bearish outlook. Immediate support at 1.4190. A clear break below that area would lead us to neutral zone in nearest term testing the lower line of the bullish channel but I think we need a clear break below strong/psychological support 1.4000 to continue the bearish scenario.

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