EURUSD Forecast

The EURUSD was indecisive yesterday. The bias is neutral in nearest term. Overall price is still in a bullish phase since bounced from 1.3145 and violated the bearish channel as you can see on my daily chart below but found a good resistance around 1.3913/50. The area between 1.3913 – 1.4000 could be a strong resistance at this phase. Daily EMA 200 major resistance is seen around 1.3970. Immediate support is seen around 1.3850/00 area. A clear break and daily close below that area could trigger further bearish pullback and keep price in sideways outlook between 1.3913 – 1.3670/55, but probably with more bearish intraday bias. On the upside, a clear break and daily close above 1.4000 could lead to further bullish technical bias testing 1.4070 – 1.4100 even higher.

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