EURUSD Forecast

The EURUSD continued its bearish momentum yesterday, bottomed at 1.3607 and closed at 1.3650 as a part of the bearish phase since broke below the trend line support as you can see on my hourly chart below. Price corrected higher earlier today in Asian session hit 1.3724 but any upside pullback now is normal and my intraday bias remains to the downside. Immediate resistance is seen around 1.3800. A clear break above that area could lead price to neutral zone in nearest term but only a clear break and daily close back above 1.3900/50 could stop the current bearish outlook. On the downside, a clear break and daily close below 1.3600 could trigger further bearish pressure testing 1.3500 area even lower.

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