EURUSD Daily Forecast: July 11

EURUSD Forecast

The EURUSD continued its bearish momentum yesterday, bottomed at 1.2234 and closed at 1.2254. The bias remains bearish in nearest term still testing 1.2200 – 1.2150 support area. Immediate resistance is seen around 1.2330. A clear break above that area could lead price to neutral zone in nearest term but as long as stays below 1.2435 my overall intraday bias remains strongly to the downside. We have a CCI bullish divergence on h4 chart suggests a bullish correction warning but any upside pullback now is normal and I still prefer to sell on rallies.

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