EURUSD Weekly Forecast Sept 08 2014

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The EURUSD continued its bearish momentum last week ,breached below the 1.3104 levels , as a result outlook remains on the downside as long as resistance  1.2993/1.3159 holds on a weekly closing basis , support comes at the 1.2919 levels , sustained trading below this level would open 1.2735 levels , ahead of the 1.2660 levels ,  further losses will aim the 1.24500 levels . At this point I’d expect strong support from the 1.2500 levels to contain the bearish move and bring consolidation , a clear break below the 1.2500 levels will open the 1.2000 levels…

On the upside , resistance comes at the 1.2993 levels , sustained trading will turn outlook neutral for retesting  the 1.3104/1.3159 levels before the next fall  ,break of the 1.3159 levels will reverse risk towards  the 1.3400 levels before the next possible fall…

In all , as long as resistance 1.2993/1.3159 holds on a weekly closing basis , outlook in EURUSD remains on the downside towards the 1.2735/1.2660 levels ,  above the 1.3159 levels will reverse risk towards the 1.3400 levels….

 

 

EURUSD Weekly Forecast Sept 08 2014

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