Forecast For 2018, EURUSD Bearish Despite Recovery Attempts.

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The outlook in EURUSD has turned neutral with risk to the downside in the long-term forecast, support comes at the 1.0507 levels (high of 2002) while resistance comes at the 1.2091 levels (high of 2017). On the upside, a sustained breakout above 1.2091 levels will turn the focus on the 1.2865 levels (low of 2007) where a break will aim the 1.3993 levels (main) high of 2014. A halt is very very likely and it should turn lower from here, but if this fails to happen, the pair will extend gains to the 1.4966 levels…

Alternatively; a failure to hold gains above the 1.2091 levels could mean a return to the 1.0507 levels, we might see hesitation here, but a cut through the 1.0507 levels will aim the 0.8897 levels, further down, support comes at the 0.7765 levels.

Conclusion: The EURUSD sees downside threats below the 1.2091 levels in 2018, above 1.2091 sees a recovery risk to the 1.2865/1.3993 levels before another fall…

Note: Minor support comes at the 1.1615 levels, in the case of a pullback from the 1.2091 levels, below 1.1615 will accelerate the expected bearish move to the 1.0507 levels…

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