EURUSD Daily Forecast: August 20

EURUSD Forecast

The EURUSD didn’t make significant movement last week. Price has been moving in a range of 200 pips in the last two weeks (1.2240 – 1.2440). The bias remains neutral in nearest term. As you can see on my h4 chart below price is still able to move inside the bullish channel suggests that the bullish correction phase remains intact. Key support area remains around 1.2250 – 1.2200. A clear break and daily close below that area could end the bullish correction phase and continue the major bearish scenario. Key resistance is seen around 1.2385 followed by 1.2440.

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