[m.youssif]

EURUSD Forecast
The EURUSD was able to maintain its bearish bias yesterday. Price attempted to push higher, topped at 1.3937 but whipsawed to the downside, slipped below the trend line support as you can see on my h4 chart below, fell below 1.3800 and hit 1.3735 earlier today in Asian session. The bias remains bearish in nearest term targeting 1.3700 area before testing 1.3500 this week. We have potential bearish reversal scenario here, but I need a clear break below 1.3700 to have further validation to the bearish reversal outlook. Immediate resistance at 1.3800. Break above that area could lead us to neutral zone in nearest term testing 1.3850 – 1.3900 area but as long as price move below 1.4000 I prefer a bearish scenario at this phase. After several weeks of unclear direction and inconsistent movement, I hope we can see a good trending market.

[m.youssif]

EURUSD Forecast
The EURUSD was able to maintain its bearish bias yesterday. Price attempted to push higher, topped at 1.3937 but whipsawed to the downside, slipped below the trend line support as you can see on my h4 chart below, fell below 1.3800 and hit 1.3735 earlier today in Asian session. The bias remains bearish in nearest term targeting 1.3700 area before testing 1.3500 this week. We have potential bearish reversal scenario here, but I need a clear break below 1.3700 to have further validation to the bearish reversal outlook. Immediate resistance at 1.3800. Break above that area could lead us to neutral zone in nearest term testing 1.3850 – 1.3900 area but as long as price move below 1.4000 I prefer a bearish scenario at this phase. After several weeks of unclear direction and inconsistent movement, I hope we can see a good trending market.