EURUSD Daily Forecast: April 20

EURUSD Forecast
The EURUSD attempted to push higher yesterday, slipped above 1.2395 resistance but closed lower at 1.2344. Price has been moving inside a 100-pip range area between 1.2395 – 1.2298 for two weeks now. The bias remains neutral in nearest term probably with a little bearish bias testing 1.2298 support area as a part of the bearish phase after printed a bearish pin bar at 1.2395 as you can see on my H4 chart below. A clear break and daily/weekly close below 1.2298 would expose 1.2175 key support area. On the upside, key short-term resistance remains at 1.2395 – 1.2413 region. A clear break above that area would invalidate the bearish pin bar scenario testing 1.2475 but key resistance remains at 1.2537 which need to be clearly broken to the upside to end the current consolidation phase and resume the major bullish trend.