EURUSD Daily Forecast: April 29 2016
EURUSD Forecast
The EURUSD had another indecisive movement yesterday but overall still able to maintain its bullish intraday bias and still print higher lows and highs. The bias is bullish in nearest term. As you can see on my H4 chart below, price is now struggling around the trend line resistance. A clear break above the trend line resistance and 1.1370 could trigger further bullish pressure testing 1.1500 area. Immediate support is seen around 1.1300. A clear break below that area could lead price to neutral zone in nearest term testing 1.1250 area. My major technical outlook remains neutral and from a daily chart perspective we have potential strong resistances between 1.1500 – 1.1700 region.
