EURUSD Forecast

The EURUSD continued its strong bullish pullback yesterday, topped at 1.3935 and closed at 1.3879. On hourly chart below we can see price is moving strongly to the upside inside a bullish channel after the rejection to break below 1.3500. The bias remains bullish in nearest term especially if price able to make another strong break above 1.3940 area testing 1.4150. However my major bearish scenario should remain intact since the fall from 1.4939 and I have conflicting multi time frames bias now. Immediate support is seen around 1.3825. A clear break below that area could lead price to neutral zone in nearest term testing the lower line of the bullish channel and 1.3735 and we need at least a break below the bullish channel to keep the major bearish scenario strong, still testing 1.3400 area.

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