EURUSD Daily Forecast: July 18

EURUSD Forecast

The EURUSD had another volatile but indecisive movement yesterday. Price attempted to push lower, bottomed at 1.2188 but whipsawed to the upside and closed higher at 1.2289. The bias is neutral in nearest term. Overall I still prefer a bearish scenario at this phase with sell on rallies strategy. However, as you can see on my h4 chart below we have a V-bottom pattern as a warning of potential bullish pullback especially if price able to make a clear break above 1.2330 testing 1.2400/35 area. 1.2160 area is also can be considered as a double bottom formation, which need to be clearly broken to the downside to continue the major bearish scenario.

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