EUR/USD Daily Forecast

Tuesday, July 20, 2010

The EURUSD didn't make significant movement yesterday. The bullish momentum so far unable to make a break above 1.3000 resistance area but the bullish phase remains intact. The bias remains neutral in nearest term. As you can see on my h4 chart below we have a flag formation indicating potential bullish scenario especially if price break above the flag and 1.3000 area targeting 1.3120. Immediate support at 1.2900. Consistent move below that area could trigger further bearish pressure testing 1.2750 region.