EURUSD Daily Forecast: August 07

EURUSD Forecast
The EURUSD was indecisive yesterday but overall still able to maintain its bearish bias and keep printing new daily lows since July 31. The bias remains bearish in nearest term as a part of the bearish scenario after broke below the triangle formation as you can see on my H4 chart below targeting 1.1500 region which need to be clearly broken to the downside to resume the major bearish trend. Immediate resistance is seen around 1.1610. A clear break 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.