EURUSD Daily Forecast: March 11

EURUSD Forecast    

The EURUSD was indecisive last week. Price attempted to push higher topped at 1.3133 but whipsawed to the downside and slipped back below 1.3000. The bias is bearish in nearest term. We have a strong support around 1.2970/50 which needs to be clearly broken to the downside to continue the bearish scenario testing 1.2900 or lower. Immediate resistance is seen around 1.3020. A clear break above that area could lead price to neutral zone in nearest term testing 1.3050 – 1.3100. Overall I still prefer a bearish scenario.