EURUSD Daily Forecast: August 28

EURUSD Forecast    
The EURUSD continued its bearish momentum yesterday bottomed at 1.1201. As you can see on my H1 chart below, price broke below the EMA 200 suggests a bearish outlook, which consistent with a false breakout bearish scenario after the failure to make a clear break above the daily EMA 200. The bias remains bearish in nearest term testing 1.1150.  Immediate resistance is seen around 1.1300. A clear break above that area could lead price to neutral zone in nearest term as direction would become unclear testing 1.1365 area. Potential daily range today is seen between 1.1150 – 1.1300.

eurusdhourly

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