EURUSD Daily Forecast: October 26

EURUSD Forecast

The EURUSD attempted to push higher yesterday, topped at 1.3022 but whipsawed to the downside and hit 1.2915 earlier today. As you can see on my h4 chart below price slipped below the bullish channel. The bias is bearish in nearest term testing 1.2900 – 1.2890. A clear break below that area could trigger further bearish pressure testing 1.2850/00. The major bullish scenario is in a serious threat now and my medium term outlook is entering a neutral zone but I am not in a bearish mode. Immediate resistance is seen around 1.2950/60. A clear break above that area could lead price to neutral zone in nearest term testing 1.3000/20 resistance area which need to be clearly broken to the upside to keep the major bullish scenario intact.