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EURUSD Daily Forecast: March 02

Wednesday, March 1, 2017 19:32
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EURUSD Forecast    
The EURUSD attempted to push lower yesterday bottomed at 1.0514 but closed a little bit higher at 1.0546. As you can see on my H4 chart below, price is moving inside a bearish channel suggests a bearish phase. The bias is neutral in nearest term probably with a little bearish bias testing 1.0500 – 1.0450 support area and the lower line of the bearish channel which is a good place to buy with a tight stop loss. Immediate resistance is seen around 1.0580. A clear break above that area could trigger further bullish pressure testing 1.0630 resistance area. Overall I remain neutral.



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