EURUSD Forecast

The EURUSD attempted to push higher on Friday, topped at 1.3613 (23.6% Fibo retracement of 1.4246 – 1.3420) but further bullish pressure was rejected, closed lower at 1.3522. There are no changes in my technical outlook where the overall bias remains to the downside as long as price stays below 1.3590 – 1.3613, still targeting 1.3350 and 1.3145 especially if price able to make a clear break and daily close below 1.3420. On the upside, a clear break above 1.3613 would lead price to neutral zone in nearest term testing 1.3730/50 resistance area but as long as stays below 1.3870 my bearish outlook should remain intact. A clear break and daily close back above 1.3870 would cancel the bearish outlook, probably activate my bullish intraday mode testing 1.4000 area. CCI in neutral zone on h4 chart but remains bearish on hourly and daily chart.

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