Forecast For 2018, EURUSD Bearish Despite Recovery Attempts.


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…

Previous articleMajors Daily Forecast Dec 22 2017
I’ve been in the fx market since 2007, In this website, I'm gonna share with you the knowledge and the experience that I obtained through the years, I analyze the markets from technical and fundamental perspectives. I cover, short/medium to longer term forecasts, that fits all kind of traders from beginners to professionals, my primary mission is to get the real pulse of the market to our readers.


Please enter your comment!
Please enter your name here