EURUSD Forecast:

We had a volatile market on Friday. The pair attempted to push lower, bottomed at 1.4190 but further bearish scenario was rejected as the pair whipsawed to the upside, topped at 1.4326 and closed at 1.4293. On h4 chart below we still have a valid bearish channel but we have some upside pressure right now, testing the bearish channel. A violation to the bearish channel should trigger further upside pressure testing 1.4446 resistance area. The bias is bullish in nearest term but we all know that actually the pair is still consolidating in range area (of 1.4405/46 – 1.4180), so I prefer to stand aside for now and wait for further development. For me the best trading strategy in this kind of market is to buy around 1.4180 or to sell around 1.4405/46 area with a tight stop loss. Immediate support is seen at 1.4250 followed by 1.4180.