EURUSD Forecast

The EURUSD attempted to push lower yesterday, bottomed at 1.3430 but closed higher at 1.3482. The bias is neutral in nearest term but my overall technical bias remains to the downside and I still prefer to short on rallies. Price has been moving sideways since November 11, found a good minor support around 1.3420. We need a clear break and daily close below that area to continue the bearish scenario testing 1.3350 and 1.3145. On the upside, only a clear break and daily close back above 1.3590 – 1.3613 would stop the bearish intraday outlook and activate my wait and see mode but only a clear break above 1.3870 could turn my intraday bias to a bullish view at least testing 1.4000.

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