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EURUSD Forecast
The EURUSD attempted to push lower earlier today in Asian session, hit 1.2884 but corrected higher traded around 1.2925 at the time I wrote this comment. The bias remains bearish in nearest term especially if price able to make another strong break below 1.2884 testing 1.2828 – 1.2800 support area before targeting 1.2700 – 1.2600 this week as the head and shoulders bearish scenario would have further validation. Immediate resistance at 1.2970. Break above that area could lead us to neutral zone in nearest term testing 1.3020 resistance area but any upside correction after strong bearish movement last week is normal and my major technical outlook remains strongly bearish for the single currency.

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EURUSD Weekly Summary: Slipped below the neckline, Euro could hit 1.2700 - 1.2600 next week
The EURUSD had a significant bearish movement this week, made a big bearish candle on weekly chart, hit 1.2900 support area and slipped below the neckline of the head and shoulders pattern as you can see on my daily chart below, suggests potential bearish continuation scenario testing 1.2700 – 1.2600 area next week especially if price able to make convincing move below the neckline and 1.2900 support level. Immediate resistance at 1.3020 (Friday’s high). Break above that area could trigger further upside correction testing 1.3150 region and lead us back to a range market, but unless we have big surprise on Euro fundamental condition that could ...

EURUSD Forecast
The EURUSD continued its bearish momentum yesterday, bottomed at 1.2983 and hit 1.2969 earlier today in Asian session. The bias remains bearish in nearest term, testing 1.2920 and the trend line support. From another technical perspective as you can see on my daily chart below, the trend line support is also the neckline of a head and shoulders pattern. A clear break below the neckline would confirm the bearish continuation scenario at least testing 1.2700 – 1.2600 area. Immediate resistance at 1.3040. Break above that area could lead us to neutral zone in nearest term. Note that as long as the trend line support/neckline hold, we are still in consolidation phase where bearish continuation scenario is not validated yet. ...

EURUSD Forecast
The EURUSD had a bearish momentum yesterday, bottomed at 1.3125 and closed at 1.3149. The bias remains bearish in nearest term testing 1.3000 – 1.2968 key support area but note that overall we are still trapped in range area as you can see on my daily chart below and need a clear break below the trend line support to continue the major bearish scenario. Immediate resistance at 1.3200. Break above that area could lead us to neutral zone in nearest term testing 1.3250 – 1.3300.



GBPUSD Forecast
The GBPUSD had a bearish momentum yesterday. The bias is bearish in nearest term but overall we are still in consolidation phase without clear direction ...