EURUSD Daily Forecast Apr 11 2017

EURUSD: Weak & Vulnerable To The Downside Despite Hesitation!

EURO -dollar - 69875

EURUSD: Weak & Vulnerable To The Downside Despite Hesitation!

The EURUSD maintained some bullish momentum yesterday, rejected from 1.0569 key support (as expected), topped at the 1.0606 levels.

The EURUSD will have to break and hold above the 1.0606 levels on 4-hour closing basis to prevent a return to the downside If seen, it will face recovery threats to the 1.0653 levels before the next falling, however; above 1.0653 will extend recovery to the 1.0700 where fall resumption is likely…

Alternatively, a failure to hold above the 1.0606 levels could mean a return to the 1.0569 levels, a cut through that level would open 1.0515/1.0480 levels, further down, support stands at the 1.0433 levels ahead of the 1.0380 levels…

Conclusion: The EURUSD continues to face downside threats below theĀ 1.0768/1.0700 levels despite hesitation…

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MARKET DATA

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