[m.youssif]

EURUSD Forecast
The EURUSD made another inconsistent movement yesterday. Price topped at 1.4079 but whipsawed to the downside, bottomed at 1.3907 and closed at 1.3922. As you can see on my h4 chart below, price is now back inside the bearish channel after slipped above it. Overall the direction remains unclear and price is moving in 1.4158 – 1.3700 range area. While longer time frames show unclear direction, intra-day traders may benefit from shorter time frame like 30 minute – hourly chart. The bias is neutral in nearest term. Immediate resistance at 1.3970. Break above that area could trigger further short term upside pressure testing 1.4028/50 area. Immediate support at 1.3900. Break below that area could trigger further short term bearish pressure testing 1.3850 – 1.3800.

[m.youssif]

EURUSD Forecast
The EURUSD made another inconsistent movement yesterday. Price topped at 1.4079 but whipsawed to the downside, bottomed at 1.3907 and closed at 1.3922. As you can see on my h4 chart below, price is now back inside the bearish channel after slipped above it. Overall the direction remains unclear and price is moving in 1.4158 – 1.3700 range area. While longer time frames show unclear direction, intra-day traders may benefit from shorter time frame like 30 minute – hourly chart. The bias is neutral in nearest term. Immediate resistance at 1.3970. Break above that area could trigger further short term upside pressure testing 1.4028/50 area. Immediate support at 1.3900. Break below that area could trigger further short term bearish pressure testing 1.3850 – 1.3800.