EURUSD Daily Forecast: May 22

EURUSD Forecast
The EURUSD attempted to push lower yesterday bottomed at 1.1716 but closed higher at 1.1791, printed a bullish pin bar on the daily chart, suggests a potential bullish pullback scenario. The bias is bullish in nearest term. From an H1 chart perspective as you can see on my H1 chart below, the current bullish correction is targeting the H1 EMA 200 and the violated trend line support located around 1.1850 area. A clear break above that area would expose 1.1920 key resistance which is a good place to sell with a tight stop loss as a clear break above that level would interrupt the bearish outlook and activate my neutral mode. Immediate support is seen around 1.1750. A clear break below that area could lead price to neutral zone in nearest term retesting 1.1716 region which need to be clearly broken to the downside to resume the bearish run targeting 1.1550.