[m.youssif]

EURUSD Forecast
The EURUSD had a gap earlier today in Asian session, opened higher at 1.3741 which is about 70 pips higher than Friday’s close price. The bias remains bullish in nearest term testing 1.3830/50 region especially if price able to make a clear break above 1.3770 resistance area but we may have potential downside move testing 1.3670 area as gaps are usually filled. On h4 chart below we have a V-bottom formation, which is a bullish pattern so although the bearish medium bias since the fall from 1.4230 remains intact, the current strong bullish pullback could be a serious threat to the bearish outlook. Break below 1.3670 support area could lead us to neutral zone in nearest term testing 1.3600. On the other hand, consistent move above 1.3830/50 could trigger further bullish scenario testing 1.4000.

[m.youssif]

EURUSD Forecast
The EURUSD had a gap earlier today in Asian session, opened higher at 1.3741 which is about 70 pips higher than Friday’s close price. The bias remains bullish in nearest term testing 1.3830/50 region especially if price able to make a clear break above 1.3770 resistance area but we may have potential downside move testing 1.3670 area as gaps are usually filled. On h4 chart below we have a V-bottom formation, which is a bullish pattern so although the bearish medium bias since the fall from 1.4230 remains intact, the current strong bullish pullback could be a serious threat to the bearish outlook. Break below 1.3670 support area could lead us to neutral zone in nearest term testing 1.3600. On the other hand, consistent move above 1.3830/50 could trigger further bullish scenario testing 1.4000.