EURUSD Daily Forecast Jun 07 2017

EURUSD, Bullish But Hesitates Ahead of 1.1300 levels...

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EURUSD, Bullish But Hesitates Ahead of 1.1300 levels…

Outlook in EURUSD has turned neutral with risk to the upside, support comes at the 1.1200 levels, a halt is likely and buyers may return from here, If seen, resistance is seen around 1.1298 levels, with a break above here opening the way to the 1.1365 levels, we might see hesitation, but a breakthrough that level will pave the way towards the 1.1427 levels…

On the downside, support comes at the 1.1200 levels, a cut below that level would open 1.1161, further down support comes at the 1.1095 levels before the next rising…

Conclusion: The EURUSD continues to face upside threats above 1.1200/1.1161 levels with risk to the 1.1298 levels and possibly higher, below 1.1161 sees a fall risk to the 1.1095 levels before the next rising…

Note: In medium term forecast the pair is bullish above 1.1095 levels, below that level may bring a lower leg below 1.0000 levels, break of 1.1298 should target 1.1615 levels…

 

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