EURUSD – Daily Forecast 11 Jul 2013

EURO-Dollar-min

The EURUSD maintained a bullish momentum yesterday, almost 400 pips rise, now the pressure will be on the key resistance 1.3206.The EURUSD will have to hold above the 1.3206 levels on a daily closing basis, to push the market for further upside gains, If seen, It will target the 1.3330 levels where a breach will turn the focus on the 1.3485 levels.

Alternatively, a failure to hold above the 1.3206 levels on a daily closing basis, could mean a return to the 1.2755 levels, a daily close below 1.2755 will open the way towards the 1.2630 levels ahead of the 12475 levels.

Note that we have wide area between main support 1.2755 and main resistance 1.3205, so trading EURUSD could be risky a bit these days , it may fluctuate within this range before the next move , it’s highly recommended to watch the pair on smaller time frames , anyway here are support and resistance levels: 1.2755,1.2877,1.2927,1.2980,1.3033,1.3083, 1.3206

Remember, the extended bullish divergence still in progress, a daily close above 1.3145 may expose 1.3205, stability below 1.3145 on a daily closing basis will keep the pair under pressure.

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