EURUSD – Daily Forecast 22 Aug 2013


The EURUSD maintained a bearish momentum yesterday, topped at the 1.3426, and bottomed at the 1.3334 levels, now the pressure will be on the key support 1.3334.

The EURUSD will have to hold below the 1.3334 levels on a daily closing basis to push the market for further downside losses, If seen It will target the 1.3205 levels, a halt is strongly suggested, but losing the 1.3205 levels will have large bearish implication towards the 1.3135 ahead of the 1.3055, furthermore will aim the 1.2960 levels.

Alternatively, a failure to hold below the 1.3334 levels could mean a return to the 1.3426 level, a break will look for the main resistance 1.3451, a halt could be seen but a breach will extend gains towards the 1.3520 levels where a breach is very likely, a break will target the 1.3600 levels , furthermore will aim the 1.3700 levels.

In all as long as 1.3451/1.3426 levels hold on a daily closing basis, the pair will remain under pressure with risk towards the 1.3205 levels.