EURUSD Daily Forecast: October 23

EURUSD Forecast

The EURUSD had a bullish momentum yesterday but still unable to make a clear break above 1.3070/80 so far. There are no changes in my technical outlook.  Price is still in a major bullish outlook but the H&S bearish scenario on hourly chart also remains valid. Immediate resistance remains around 1.3070/80. A clear break above that area will interrupt the H&S bearish scenario testing 1.3140/70. On the downside, a failure to make a clear break above 1.3070/80 and movement below 1.3000 could trigger further bearish correction testing 1.2950 – 1.2900 area.