EURUSD Daily Forecast: August 06

EURUSD Forecast

The EURUSD had a strong bullish momentum on Friday. Price slipped above 1.2400 key resistance area earlier today but still unable to stay consistently above that area so far. The bias is bullish in nearest term especially if price able to make a clear movement above 1.2400 testing 1.2500 area. Immediate support is seen around 1.2330. A clear break below that area could lead price to neutral zone in nearest term testing 1.2265/50 support area and keep my medium term outlook in a neutral condition. My long term outlook remains bearish.

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