EURUSD Daily Forecast: April 05

EURUSD Forecast
The EURUSD was indecisive yesterday. Price attempted to push higher, revisits the lower line of the rising wedge formation as you can see on my H4 chart below, topped at 1.2314 but closed lower at 1.2276. This fact keeps the rising wedge bearish scenario intact testing 1.2175 key support area which remains a good place to buy with a tight stop loss. Immediate resistance is seen around 1.2335. A clear break above that area would invalidate the rising wedge bearish scenario testing 1.2400 region. On the downside, a clear break and daily close below 1.2175 would invalidate my major bullish outlook.