The EURUSD had a significant bearish momentum yesterday, bottomed at 1.4821 and closed at 1.4844. The valid double top bearish reversal scenario on daily chart I said yesterday surely now in a good progress as bullish momentum seems exhausted but once again, we need consistent movement below 1.4850 and a clear break below the major trendline support in order to confirm the scenario towards 1.4625 even 1.4450 area.
On h4 chart below we can see that price slipped below the trendline support but can not stay consistently below the trendline and 1.4850 key support area so far. CCI in oversold area and heading up on h4 chart suggesting potential upside pullback. Although the nearest bias is bearish, I will not surprise if we will have some upside momentum today, but as long as the pair stay below 1.4930/50, the double top bearish reversal scenario should remains intact. Immediate resistance at 1.4890 followed by 1.4930/50 area. Break above 1.4950 should diminish the double top scenario. On the upside, only movement above 1.5060/50 area can be considered as bullish continuation scenario towards 1.5150 and 1.5300.