EURUSD Forecast:

The EURUSD was volatile but indecisive yesterday. The bias is neutral in nearest term. From another perspective on h4 chart below we can see price is moving in a triangle formation indicating consolidation but the main scenario remains to the downside. Immediate support at 1.2620/30 region. Break below that area could trigger further bearish pressure testing 1.2587 – 1.2523. Initial resistance at 1.2742 (yesterday’s high). Break above that area could trigger further bullish momentum testing 1.2825 as the triangle is broken to the upside.

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