EURUSD Forecast:

The EURUSD made indecisive movement on Friday indicating consolidation after some bullish momentum. On daily chart below we can see that the pair still moving in a bullish channel  but price retreat lower around the upper line of the bullish channel. I think the pair is in potential downside correction phase, testing 1.4446 support area. Break below that area should trigger further downside correction towards the bullish channel lower line. Only a violation the the bullish channel should be seen as bullish failure. Immediate resistance at 1.4633 area (Friday’s high). Break above that area should trigger further bullish momentum towards 1.4719. CCI in overbought area and heading down on daily chart suggesting potential downside pressure.