EURUSD Daily Forecast: May 17

EURUSD Forecast
The EURUSD continued its bearish momentum yesterday bottomed at 1.1763 but closed higher at 1.1806 and hit 1.1837 earlier today in Asian session. The bias is neutral in nearest term but overall I remain bearish with nearest bearish target seen at 1.1735/00 area. Immediate resistance is seen around 1.1837 which located around a trend line resistance as you can see on my H1 chart below. A clear break above 1.1837 could trigger further bullish pullback but as long as stay below 1.1920 I still prefer a bearish scenario at this phase as a part of the descending triangle bearish scenario on the daily chart and any upside pullback should be seen as a good opportunity to sell.