EURUSD Daily Forecast: August 08

EURUSD Forecast
The EURUSD had a bullish momentum yesterday topped at 1.1608 and hit 1.1619 earlier today in Asian session. The bias is bullish in nearest term. Price revisits the lower line of the broken triangle as you can see on my H4 chart below which is a good place to sell with a tight stop loss as a clear break back inside the triangle would invalidate the bearish scenario testing 1.1650 – 1.1700 region. Immediate support is seen around 1.1580. A clear break below that area could lead price to neutral zone in nearest term but would keep the bearish scenario alive and kicking retesting 1.1500 key support area which need to be clearly broken to the downside to resume the major bearish trend.