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EURUSD Daily Forecast: April 10

Sunday, April 9, 2017 19:45
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EURUSD Forecast    
The EURUSD continued its bearish momentum last week bottomed at 1.0580. The bias is bearish in nearest term testing 1.0500 region but as you can see on my H4 chart below price is struggling around a trend line support which could be a good support at this phase. Immediate resistance is seen around 1.0605. A clear break above that area could lead price to neutral zone in nearest term but only a clear break back above 1.0700 would be a threat to the current short-term bearish outlook. On the downside, a clear break and daily close below 1.0500 would expose 1.0350 region this week. Overall I remain neutral.


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