EURUSD Daily Forecast Aug 05 2014

EURO-Dollar-min

Outlook in EURUSD remains neutral at the moment , resistance comes at the 1.3444 levels , sustained trading – daily closing – above the 1.3444 levels will signal short term bottoming and bring strong recovery towards the 1.3530 levels , a halt is likely , but further upside will recapture the 1.3561/1.3627 levels…

On the downside , a failure to hold above the 1.3444 levels on a daily closing basis could mean a return to the 1.3366 levels , losing this level on a daily closing basis will extend losses towards the 1.3300 levels ahead of the 1.3220 levels…

In all, the EURUSD is likely to consolidate within 1.3366/1.3444 range before the next move , above the 1.3444 levels  will aim the 1.3530 levels and possible higher towards the 1.3627 levels , while below 1.3366 will extend losses towards the 1.3300/1.3220 levels……

 

EURUSD Daily Forecast Aug 05 2014

MARKET DATA

UPCOMING ECONOMIC EVENTS