EURUSD Forecast

The EURUSD attempted to push lower yesterday, bottomed at 1.3384 but closed higher at 1.3503 and hit 1.3565 earlier today in Asian session. The bias is neutral in nearest term. We have a hammer candle stick pattern after touched major support at the 50% Fibonacci retracement of 1.1875 – 1.4939 as you can see on my daily chart below suggests potential bullish pullback warning. I still prefer a bearish scenario at this phase but I think we need another breakdown and daily close below 1.3400 area to cancel the hammer formation bullish correction warning and continue the bearish scenario testing 1.3250 even the 61% Fibo around 1.3050. Immediate resistance is seen around 1.3580 followed by 1.3650. Immediate support is seen around 1.3450. A clear break below that area could trigger further bearish pressure retesting 1.3400.

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