EURUSD Forecast

The EURUSD attempted to push higher yesterday, slipped above 1.3830 but whipsawed to the downside, closed lower at 1.3766 and hit 1.3710 earlier today in Asian session. As long as stays above 1.3670 price is still in a bullish phase since the break above the bearish channel but the fact that bullish momentum was limited and the H&S bearish warning is still valid could be a serious challenge to the bullish phase especially if price able to make a clear break and daily close below 1.3670 which would turn my intraday bias to a bearish view testing 1.3500 region. Immediate resistance is seen around 1.3780. A clear break above that area could trigger further upside pressure testing 1.3830/68 but only a clear break above 1.3913 could cancel the H&S bearish warning, testing 1.4000 key/major resistance.

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