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EURUSD Forecast
The EURUSD was volatile but indecisive yesterday, formed A Doji on daily chart. The bias is neutral in nearest term but overall price still maintain its strong bullish outlook. We have a resistance around 1.3700 area. Break above that area could continue the bullish pressure testing 1.3800 – 1.3888. Immediate support at 1.3600 followed by 1.3550. Lower, 1.3500 could be a key support area at this phase. Correction is natural and always happen in the market but technically I do not expect any correction below 1.3500 for now unless we have a big negative fundamental surprise in the Euro zone or US which could create risk aversion sentiment and push the Euro lower.

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EURUSD Forecast
The EURUSD had a moderate bullish momentum yesterday, topped at 1.3645 and closed at 1.3624. Overall we are still in strong bullish phase targeting 1.3700 – 1.3800 area this week especially if price make another breakout above 1.3645. As you can see on h4 chart below, CCI about to cross the 100 level indicates potential minor bearish correction testing 1.3550 – 1.3500 support area. In the last two weeks price bullish movement is characterized by breakout – consolidation – breakout patterns. So right now, with CCI start to show potential downside pullback re-testing zero level, we may be in another consolidation phase but short position is not recommended. Only a movement below 1.3500 and violation to the bullish ...

EURUSD Forecast
In my weekly summary on Saturday, I said that the EURUSD bullish momentum indicated and started by strong consecutive breakouts and we could see more breakouts. As you can see on my h4 chart below, yesterday we have another strong breakout with big bullish candle above 1.3500 after price bounced from the lower line of the bullish channel which provided good support. CCI also rejected to move below zero level indicates bullish momentum remains strong. This fact could continue the bullish momentum targeting 1.3700 in nearest term before testing 1.3800 – 1.3888 area. Immediate support at 1.3500. Break below that area could lead us to neutral zone in nearest term re-testing the lower line of the bullish channel but the ...

EURUSD Forecast
The EURUSD bullish momentum was paused yesterday after failed to make a clear break above 1.3500 resistance area. The bias is neutral in nearest term as price is consolidating. The strong bullish outlook remains intact but need a clear break above 1.3500 to continue the bullish momentum testing 1.3700. On the downside, immediate support at 1.3400 and the lower line of the bullish channel. Break below that area could diminish the bullish outlook. As you can see on my h4 chart below, CCI maintain above zero level during the strong bullish momentum. A violation to the bullish channel followed by CCI movement below zero level could trigger significant bearish pressure testing 1.3310 support area. On the other hand, another ...