EURUSD Daily Forecast: October 16

EURUSD Forecast

The EURUSD attempted to push lower yesterday, bottomed at 1.2889 but whipsawed to the upside and hit 1.2994 earlier today. The bias is bullish in nearest term testing the upper line of the triangle and 1.3000/30 area. A clear break above that area could trigger further bullish pressure testing 1.3070 or higher. Immediate support is seen around 1.2930. A clear break below that area could lead price to neutral zone in nearest term testing 1.2850/70 but as long as stays inside the bullish channel the major bullish scenario should remain intact.