EURUSD Forecast

The EURUSD bullish momentum was stopped on Friday. After gained from risk appetite sentiment triggered by better than expected US NFP number and topped at 1.3523, price dropped quickly and closed at 1.3374. There were some upside pressure earlier today in Asian session hit 1.3484 and as you can see on my daily chart below price is now retesting the upper line of the bearish channel. The bias is neutral in nearest term. A clear break above the bearish channel and daily close above 1.3520 could be a threat to the bearish outlook testing 1.3680 region. On the downside, we need a clear break and daily close back below 1.3361 to keep the bearish scenario strong testing 1.3240 – 1.3145 region.

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