EURUSD Daily Forecast: March 19

EURUSD Forecast
The EURUSD had another indecisive movement last week. Price attempted to push higher topped at 1.2412 but closed lower at 1.2287. My major bullish outlook remains valid, but we have a clear bearish structure on H1 chart triggered by the appearance of the double top formation, followed by the break below the trend line support and the H1 EMA 200 last week. The bias is bearish in nearest term testing 1.2250. A clear break below that area would expose 1.2175 key support and the major trend line support which is a good place to buy with a tight stop loss as a clear break below the major trend line support would invalidate my major bullish outlook. Immediate resistance is seen around 1.2295. A clear break above that area could lead price to neutral zone in nearest term but as long as stay below 1.2335 the overall H1 time frame bias remains bearish.