EURUSD Forecast

The EURUSD had a significant bullish momentum yesterday, strongly broke above key /major resistance 1.4000 and hit 1.4246 after bounced strongly to the upside from the trend line support on Wednesday as you can see on my hourly chart below. This fact could trigger further bullish scenario not only in nearest term testing 1.4280 – 1.4300 but also could lead to a bullish attempt testing 1.4530/48 area (August high). Immediate support is seen around 1.4150. A clear break below that area could trigger further bearish correction but any downside pullback now is normal. As long as price stays above 1.4065/00 I still prefer a bullish scenario at this phase and only a violation to the trend line support can stop this strong bullish outlook.

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