EURUSD Daily Forecast: July 09

EURUSD Forecast
The EURUSD attempted to push lower last week bottomed at 1.1591 but whipsawed to the upside and closed higher at 1.1741 and hit 1.1767 earlier today in Asian session. The bias is bullish in nearest term testing 1.1850 resistance area as a part of the bullish phase since bounced-off 1.1510 support area. It might be a little too early to say that the major bearish trend is over, but price slipped above the EMA 200 as you can see on my H4 chart below which is a serious threat to the bearish trend and a clear break above 1.1850 would be good validation to a new established bullish trend. Immediate support is seen around 1.1720/00 region. A clear break below that area could lead price to neutral zone in nearest term as direction would become unclear testing 1.1650 area.