The EURUSD continue it’s bullish momentum yesterday, topped at 1.4946 and closed at 1.4933. On my daily chart below we can easily see that 1.4950 area is a very important resistance level, my final technical resistance to be tested before aim for 1.5300 even 1.6000 area.
On h1 chart below we can see that the bullish channel remains strong and valid indicating upside scenario still dominate and control the movement. The bias remains bullish in nearest term but we need a valid break above 1.4950 area before targeting at least 1.5100 – 1.5140. CCI in overbought area and heading down on h4 so watch out for potential downside correction testing immediate support at 1.4850. Break below that area could trigger further bearish correction back towards 1.4760 but short position is not recommended.