EURUSD Daily Forecast Aug 06 2014


The ¬†EURUSD continued its bearish momentum yesterday , printed resistance at the 1.3424 levels .This development leaves the pair targeting the 1.3270 levels , a halt is likely , but losing the 1.3270 levels will pave the way towards the 1.3150 levels , further losses will target the 1.3000 levels….

On the upside , resistance comes at the 1.3424 levels , break of 1.3424 levels on a daily closing basis will turn outlook neutral towards the 1.3530 levels , further upside will aim the 1.3627 levels……

In all , as log as resistance 1.3424 holds on a daily closing basis , outlook in EURUSD remains on the downside towards the 1.3270 levels and possible lower towards the 1.3150 levels .Above the 1.3424 levels will reverse risks towards the 1.3530 levels and possible higher towards the 1.3627 levels……..


EURUSD Daily Forecast Aug 06 2014