EURUSD Daily Forecast: May 15

EURUSD Forecast
The EURUSD attempted to push higher yesterday topped at 1.1996 but closed lower at 1.1926, printed a bearish pin bar on the daily chart, suggests a bearish scenario. The bias is bearish in nearest term. From an hourly chart perspective as you can see on my H1 chart below, price is testing the lower/support line of a bullish channel located around 1.1925 region. A clear break below the bullish channel would give further confirmation to the bearish pin bar scenario and reactivate my bearish mode retesting 1.1820 area. Immediate resistance is seen around 1.1970. A clear break above that area could lead price to neutral zone in nearest term but would keep the bullish phase remains strong testing 1.2025/50 area.