EURUSD Forecast

The EURUSD had another volatile but indecisive movement yesterday. Similar to what happened on Monday, price attempted to push higher on Asian and European session, slipped above 1.3420 but whipsawed to the downside on US session and closed lower at 1.3313. As you can see on my hourly chart below price slipped below the bearish flag suggests potential bearish continuation testing 1.3211 – 1.3145 especially if price able to make a clear break below 1.3270 area which has been a respected intraday support this week. On the upside, unless we have a clear break and daily close above 1.3420, my intraday bias remains strongly to the downside. A clear break and daily close above 1.3420 would postpone the bearish scenario but only a clear break above 1.3613 would stop the bearish outlook, probably turn my intraday bias to a bullish mode.

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