EURUSD Daily Forecast Apr 17 2018

EURO -dollar - 69875

EURUSD: Bullish With Caution!

As long as 1.2300 support holds on a daily closing basis, the EURUSD remains on the upside to the 1.2395 levels. At the point; the pair will have to break and hold above the 1.2395 levels on a daily closing basis to prevent a return to the downside, If seen, it will target the 1.2460 levels, a break will aim the 1.2522 levels, further upside, resistance comes at the 1.2600 levels.

Altrentaviley; a failure to hold above the 1.2395 levels on a daily closing basis could mean a return to the 1.2300 levels, a halt is likely but a cut through support level should weaken the recent rise and turn the focus back to the 1.2240/1.2175 levels, below 1.2175 will bring a strong bearish move to the 1.2088/1.2030 levels…

Conclusion: The EURUSD sees upside threats above 1.2300 levels with caution!

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