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EURUSD Forecast
The EURUSD failed to continue its bullish momentum yesterday, unable to make a breakout above the triangle and formed a double top formation as you can see on my hourly chart below. This fact keeps price in consolidation phase. The bias is neutral in nearest term but the double top formation could trigger further bearish pullback testing 1.4300 – 1.4270 support area, even retesting the lower line of the triangle. Immediate resistance is seen around 1.4420 followed by 1.4475.  Overall there are no changes in my technical outlook and we need a clear break from the triangle to see clearer direction.

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EURUSD Forecast
The EURUSD continued its bullish momentum yesterday, topped at 1.4475 as a bullish continuation after bounced from the lower line of the triangle as you can see on my hourly chart below. The bias remains bullish in nearest term testing 1.4500/77 region and the upper line of the triangle. A clear/valid breakout from the triangle could lead price to a new bullish phase testing 1.4695. Price has been moving in a consolidation phase especially in the last three weeks and we need a breakout from the triangle to see clearer direction. Immediate support is seen around 1.4400 – 1.4370. A clear break back below that area could lead price to a neutral zone in nearest term testing 1.4300 – 1.4270 support area and keep price in consolidation a little bit longer.

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EURUSD Forecast
The EURUSD had another indecisive movement last week. Price attempted to push lower bottomed at 1.4102, but found a support at the lower line of the triangle as you can see on my h4 chart below, closed higher at 1.4282 on Friday and hit 1.4316 earlier today in Asian session.  While my short term technical bias has changed to bullish after the bounce from the lower line of the triangle and a slip above 1.4290 – 1.4300 area testing 1.4370 – 1.4400, there are no changes in my technical outlook and as long as price stays inside the triangle the direction is unclear and price is still in consolidation phase. Immediate support is seen around 1.4250 – 1.4200. A clear break below that area could change the intraday bias back to bearish retesting 1.4150 – 1.4100 support area. Three Dojis in the last three weeks simply suggests unclear direction and inconsistent momentum and I will keep stand aside for now.

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The EURUSD had another indecisive movement this week, made another Doji on weekly chart. There are no changes in my technical outlook where overall price is still in a consolidation phase, a non trending market. As you can see on my h4 chart below price still trapped inside the triangle formation and need a clear break from the triangle to see clearer direction. Price is still making lower highs since the fall from 1.4939 so actually the bearish correction scenario remains intact. Key support area is seen around 1.4150 – 1.4100 region. On the upside, immediate resistance is seen around 1.4300 followed by 1.4400 (Wednesday’s high) and the upper line of the triangle. A valid break below the triangle could lead price to a new bearish phase. On the other hand, a valid break above the triangle could end the bearish correction phase and continue the major bullish scenario which has started from 1.1875.

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EURUSD Forecast
The EURUSD was volatile up and down yesterday, but closed relatively higher at 1.4214 after touched the lower line of my triangle as you can see on my h4 chart below. The bias is neutral in nearest term and overall there are no changes in my technical outlook where price remains in consolidation phase and a non trending situation. CCI in a neutral area but still moves below the zero level suggests another downside pressure since the fall from 1.4400 on Wednesday might happen again retesting the lower line of the triangle but as long as price moves inside the triangle, my technical direction remains unclear. Immediate support is seen around 1.4150 followed by 1.4100 and the lower line of my triangle. A clear break below 1.4100 and the triangle might lead us out from the current trendless market to a new bearish scenario. Immediate resistance is seen around 1.4250 – 1.4300. A clear break above that area could trigger further bullish pressure testing 1.4400 and keep price a little bit longer in this consolidation phase.

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EURUSD Forecast
The EURUSD failed to continue its bullish momentum yesterday, bottomed at 1.4122 and closed at 1.4136 but bounced higher earlier today in Asian session hit 1.4241. Another example of inconsistent momentum we have been seeing in the last two weeks. As you can see on my hourly chart below, price still trapped in the triangle area, still suggests a consolidation phase and a non trending market. In a trending market, a CCI below -100 level gives a sell signal and CCI above 100 level gives a buy signal. However, in a non trending market, CCI is useful to identify overbought and oversold condition just as you can see on my hourly chart below. From this point of view, now the CCI is moving up from the oversold area and crossed the -100 level to the upside, which could be buy signal. Basically I am a trend follower so the current trendless situation keeps me out of the market. The bias is neutral in nearest term. Immediate resistance is seen around 1.4250. A clear break above that area could change the intraday bias back to bullish testing 1.4300 – 1.4350 region. Immediate support is seen around 1.4150. A clear break below that area could trigger further bearish pressure testing the lower line of the triangle and 1.4100 – 1.4050 support area.

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EURUSD Forecast
The EURUSD had a bullish momentum yesterday, topped at 1.4396 and closed at 1.4353. This fact changes my intraday technical bias to a bullish mode testing 1.4500 region and the upper line of my symmetrical triangle. But note that as long as price moves inside the triangle, the overall technical outlook remains unclear and price is still in a consolidation phase, a non trending market. Immediate support is seen around 1.4250 (former resistance). A clear break back below that area could trigger further bearish pullback testing 1.4200 – 1.4150 support area. From a broader look on weekly chart we already have two Dojis suggests indecisive movement, unclear direction and inconsistent momentum in the last two weeks, and if price keep moving inside the symmetrical triangle this week, we could have the third Doji.

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EURUSD Forecast
The EURUSD had a bearish momentum yesterday, bottomed at 1.4128 but bounced higher earlier today in Asian session hit 1.4246. The bias is neutral in nearest term. There are no changes in my overall technical outlook where price remains indecisive but still in a bearish correction phase with lower highs since the fall from 1.4939. On h4 chart below we can see price is moving inside a symmetrical triangle also suggests consolidation phase and need a clear break from the triangle to see clearer direction. Immediate resistance is seen around 1.4250 region. A clear break above that area could trigger further upside pullback testing 1.4300 – 1.4350 region. On the downside, another movement back below 1.4150 would open the door for another downside attempt testing the lower line of the triangle and 1.4054 support area. A clear break below the triangle would trigger further bearish scenario.

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EURUSD Forecast
The EURUSD had another volatile but indecisive movement last week, made another Doji on weekly chart. On my daily chart below we can see price is still moving inside the major bullish channel since the bullish run from 1.1875 but corrected lower after hit 1.4939. Now let’s give more focus to the area in the red box, where price has been moving indecisively but we still have lower highs since the fall from 1.4939. From this point of view, actually price is still in a downside correction phase but significant bullish rebound were seen after price moved near 1.3850 support area and the lower line of the bullish channel, keep the major bullish outlook intact. For intraday traders, I think this situation is not the best condition to have any trade.  Immediate support is seen around 1.4265/30. A clear break below that area could change the intraday bias to bearish testing 1.4150. Immediate resistance is seen at 1.4376 (current high). A clear break above that area could change the intraday bias to bullish testing 1.4450 region.

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EURUSD Forecast
The EURUSD continued its bullish momentum yesterday, topped at 1.4524 and closed at 1.4507.  The bias is bullish in nearest term, but so far price still unable to make a significant breakout above 1.4520/40 resistance area as you can see on my hourly chart below. So actually from hourly chart point of view, price still trapped in the range area of 1.4520/40 – 1.4436 and need a clear break above 1.4520/40 to continue the bullish scenario testing 1.4577 before targeting 1.4695. On the downside, a failure to make a clear break above 1.4520/40 could lead price to a minor downside correction testing 1.4436 support area. I do not expect any move below that area as it would diminish the current strong bullish bias but as long as price stays above the trend line support my overall intraday bias remains to the upside.