EURUSD Daily Forecast Apr 03 2015

Outlook in EURUSD remains neutral at the moment , both sides are suggested , few days ago , the pair broke below the key support 1.0766, but it failed to hold losses below this level , this could be false breakout ………Anyway ; main resistance comes at the 1.0970 levels , sustained breakout above this level will suggest that rise from 1.0461 is resuming , If seen , focus will be on the 1.1182 levels ……At this point ,I’d expect strong resistance from the 1.1182 levels to limit rise from the 1.0461 levels and bring fall resumption …..

But in return , a failure to hold gains above the 1.0970 levels could mean a return the 1.0766 levels , a clear break below this level will open 1.0580/1.0461 levels ……….

In all, the EURUSD is likely to consolidate within 1.0766/1.0970 range before the next move , below 1.0766 will open 1.0580/1.0461 levels , while a clear break above the 1.0970 levels will pave the way towards the 1.1182 levels ……….

Intraday :According to the 4 hour chart , outlook in EURUSD remains neutral with risk to the downside , resistance comes at the 1.0905 levels , a failure to hold above the 1.0905 levels could mean a return to the 1.0843 , a halt could be seen , but a cut will open the 1.0760/1.0712 levels.On the upside , a clear break above the 1.0905 will open the 1.0960 levels , further upside will target the 1.1050 levels…….


EURUSD Daily Forecast Apr 03 2015



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