The EURUSD had a bearish momentum last week and now testing the lower line of the bullish channel as you can see on my daily chart below. Price is in a critical technical point now. The bias is bearish in nearest term. A clear break and consistent movement below the bullish channel and 1.3450 could be an early signal of a major bearish reversal scenario with nearest target seen around 1.3300. On hourly chart, we have a hammer candle stick formation suggests a potential bullish pullback. Immediate resistance is seen around 1.3500. A clear break above that area could lead price to neutral zone in nearest term testing 1.3550 – 1.3600.
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