EURUSD Forecast

The EURUSD was volatile but indecisive yesterday. Price attempted to push lower, bottomed at 1.3797 but whipsawed to the upside, closed at 1.3884 and hit 1.3994 earlier today in Asian session, slipped above daily EMA 200. On my hourly chart below we can see the trend line support did a good job preventing further downside pressure, keep the bullish phase intact still testing 1.4000 key/major/psychological level. A clear break and daily close above that area could trigger further bullish pressure testing 1.4070 – 1.4100 even higher. Immediate support is seen around 1.3900. A clear break below that area could trigger further downside pullback but as long as price stays above the trend line support and 1.3800 my overall intraday bias remains to the upside.

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