EURUSD Daily Forecast: February 19

EURUSD Forecast    

The EURUSD was indecisive yesterday. There are no changes in my technical outlook. A quick look at the hourly chart reveals that price has been moving sideways between 1.3400 – 1.3300 since Friday and need a clear break from the range area to see clearer direction. Price is still in a bearish correction phase but as long as stays inside the bullish channel the major bullish scenario should remain valid. A clear break and daily close above 1.3400 could trigger further bullish pressure testing 1.3485 or higher. On the other hand, a clear break and daily close below 1.3300 could trigger further bearish correction testing 1.3250 or lower testing the lower line of the bullish channel.