EURUSD Forecast

The EURUSD continued its bearish momentum yesterday, fell below 1.2500 support level and hit 1.2456 earlier today. The bias remains bearish in nearest term testing 1.2400 – 1.2350 area. Immediate resistance is seen around 1.2500/30. A clear break above that area could lead price to neutral zone in nearest term but as long as stays below 1.2620/41 my overall intraday bias remains strongly to the downside as a part of the bearish scenario after broke below the descending triangle and 1.3000 support area.

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