EURUSD Forecast

The EURUSD failed to continue its bullish momentum yesterday, slipped below 1.3600 after unable to make a break above 1.3794. This fact keeps my bearish scenario strong especially if price able to make a clear break below 1.3590 retesting 1.3500 – 1.3482 support area even lower. However note that actually intraday movement has been volatile without consistent momentum this month, made some false breakout/down while EMA 200 indicator remains flat. Immediate resistance is seen around 1.3650/70. A clear break back above that area could trigger further upside pressure testing 1.3750/88 area, but only a clear break and daily close above 1.3870 could be a threat to the bearish outlook and as long as price stays below 1.3870 I still prefer a bearish scenario at this phase.

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