EURUSD Daily Forecast: February 26

EURUSD Forecast    

The EURUSD attempted to push higher yesterday slipped above 1.3300 but whipsawed to the downside and hit 1.3017 earlier today. As you can see on my daily chart below price broke below the bullish channel and slipped below the EMA 200 suggests a bearish reversal scenario especially if price able to make a clear break and daily close below 1.3000 testing 1.2950/00 area or lower. The bias is bearish in nearest term. Immediate resistance is seen around 1.3100. A clear break above that area could lead price to neutral zone in nearest term testing 1.3150 but as long as stays below 1.3300 I prefer to sell on rallies.