EURUSD Daily Forecast: March 29

EURUSD Forecast
The EURUSD had a bearish momentum yesterday bottomed at 1.2298 after breaks below 1.2385 support area following a better than expected US final GDP data. The bias is bearish in nearest term testing the lower line of a rising wedge formation as you can see on my H4 chart below located around 1.2280. A clear break below the rising wedge would expose 1.2175 key support area. Immediate resistance is seen around 1.2385. A clear break back above that area could lead price to neutral zone in nearest term testing the upper line of the rising wedge formation. Overall I remain bullish but price is still trapped inside a 360-pip range area between 1.2537 – 1.2175 for more than 10 weeks now.