The EURUSD had a significant technical movement yesterday by break below my major trendline support (red) as you can see on my h4 chart below. Price retreated to the upside, tested the trendline but able to stay below the trendline so far. The bias is neutral in nearest term  as we still need consistent move below 1.4820/00 to continue the bearish scenario, but this fact indicating potential bullish failure and bearish reversal scenario towards 1.4700 and 1.4625 area. CCI just cross the -100 line up on h4 chart so watch out for potential upside pullback testing 1.4905 – 1.4950 resistance area. Break above that area and another movement back above the trendline should lead us into no trading zone as direction would become unclear for me. On the upside, 1.5140/40 area should remains key resistance area at this phase.

Popularity: 1%