The EURUSD was corrected higher this week after unable to make a break below 1.3500 support area. Price attempted to push higher, but closed a little bit lower on Friday at 1.3799 after found a resistance around 1.3940 area as you can see on my daily chart below. My major bearish outlook remains intact since the fall from 1.4939 and strong bearish momentum from 1.4530. Price still moves below EMA 200 on hourly, h4 and daily chart still suggests a bearish view and the current bullish pullback is still normal but would need at least another clear break back below 1.3735 to keep the major bearish scenario strong, testing 1.3500 – 1.3400 support area. On the upside, if the bullish correction continue and price makes a clear break and daily close above 1.3940, further bullish pullback can be expected testing 1.4150 area which could be a threat to the bearish outlook. Have a great weekend and see you guys next week.
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