EURUSD Daily Forecast Apr 05 2018

EURUSD: Bearish Eyes the 1.2190 Levels!

EURO -dollar - 69875

EURUSD: Bearish Eyes the 1.2190 Levels!

As long as 1.2335 resistance holds on a daily closing basis, the EURUSD remains on the downside to the 1.2250 levels where a cut will aim the 1.2190 levels, a halt is likely and it may turn higher from here but if this fails to happen it will decline further to the 1.2088 levels, next support comes at the 1.2030/1.1975 levels.

On the upside, a daily closing back above 1.2335 will turn outlook neutral for testing 1.2400/1.2475 levels. Above 1.2475 would challenge the 1.2554/1.2600 levels.

Conclusion: The EURUSD continues to face downside threats below the 1.2335 levels with a risk to the 1.2190 levels. Above 1.2335 sees a recovery risk to the 1.2400/1.2475 levels.