EURUSD Daily Forecast: August 10

EURUSD Forecast

The EURUSD had a bearish momentum yesterday after broke below 1.2330, bottomed at 1.2266. The bias is bearish in nearest term testing 1.2250 – 1.2200 and the lower line of the bullish channel as you can see on my h4 chart below. Immediate resistance is seen around 1.2330/50. A clear break back above that area could lead price to neutral zone in nearest term but would keep the bullish correction bias remains strong testing 1.2400/40 resistance area. On the downside, a clear break and daily close below 1.2200 and the bullish channel could end the bullish correction phase and continue the major bearish scenario.

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