EURUSD Forecast

The EURUSD was indecisive last week. As you can see on my hourly chart below price is moving inside a range area of 1.3913 – 1.3670/55. However as long as price stays above 1.3670/55 the bullish phase since bounced from 1.3145 and broke above the bearish channel should remain intact. A clear break above 1.3913 could trigger further bullish pressure testing 1.4000 key/major resistance area. Immediate support is seen around 1.3820 followed by 1.3750. On the downside, only a clear break and daily close back below 1.3670/50 could end the current bullish phase testing 1.3500 area.

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