EURUSD – Daily Forecast 03 Jan 2014

EURO-Dollar-min

Recommendations: SHORT positions below 1.3765 with  1.3556 &  1.3465 as next targets.
Alternative scenario:The upside breakout of 1.3765 will open 1.3832/1.3892.
Description:The EURUSD maintained a bearish momentum yesterday , topped at 1.3765 and bottomed at the 1.3628, now pressure will be on the key support 1.3628.The EURUSD will have to hold below the 1.3628 levels on a daily closing basis to push the market for further downside losses,If seen ,It will target the 1.3556 levels where a breach will turn focus on the 1.3465 levels.Alternatively ; a failure to hold below  the 1.3628 levels could mean a return to the 1.3765 levels , break of 1.3765 would challenge 1.3892 levels , a halt could be seen but  break of 1.3892 will extend gains towards 1.3965 ahead of 1.4055 levels.

 

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