EURUSD Daily Forecast: March 16

EURUSD Forecast
The EURUSD had a significant bearish momentum yesterday fell below the trend line support and H1 EMA 200 as you can see on my H1 chart below. The bias is bearish in nearest term testing 1.2250 support area. A clear break below that area would expose 1.2175 key support and the major trend line support area which is a good place to buy with a tight stop loss as a clear break below 1.2175 would invalidate my major bullish trend. Immediate resistance is seen around 1.2335/50 region. A clear break above that area could lead price to neutral zone in nearest term testing 1.2400 area.

Double top formation in forex trading