EURUSD Daily Forecast: August 06

EURUSD Forecast
The EURUSD had a significant movement last week. Price attempted to push higher, topped at 1.1745 but whipsawed to the downside and closed at 1.1566 and fell below the triangle formation as you can see on my H4 chart below. The bias is bearish in nearest term testing 1.1500 key support area. Immediate resistance is seen around 1.1610. A clear break and daily close above that area could lead price to neutral zone in nearest term as direction would become unclear. On the downside, a clear break and daily close below 1.1500 would expose 1.1435/00 region or lower.