The EURUSD made indecisive movement on Friday, formed a Doji on daily chart. Price attempted to push lower, bottomed at 1.4260 but closed higher at 1.4336. The rejection to move below key support level 1.4250 was not a surprise for me. It was a “normal” upside correction on weekend after a significant bearish week, and overall the bearish scenario still in control, reflected on the bearish channel (red channel) as you can see on my h4 chart below. Break below 1.4250 should trigger further bearish momentum targeting 1.4170 – 1.4127 area, which is an important support area in longer term. Immediate resistance is seen at 1.4400 – 1.4450 area. Break above that area should lead us into no trading zone.
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