EURUSD Daily Forecast Aug 06 2015

Outlook in EURUSD remains on the downside as long as 1.0930/1.0987 resistance holds on a daily closing basis, support comes at the 1.0800 levels, a halt is likely and we might see hesitation around this level, but a cut will open 1.0650 next, further down support comes at the 1.0550 levels.

On the upside, resistance comes at the 1.0930 levels ahead of the 1.0987 levels (main) , a break will turn outlook neutral for retesting 1.1058 /1.1128 levels before the next fall.

Conclusion : As long as 1.0930/1.0987 resistance holds on a daily closing basis, outlook in EURUSD remains on the downside towards the 1.0800 levels ahead of the 1.0650 levels, above 1.0987 faces a recovery risk towards the 1.1058/1.1128 levels before the next fall.

EURUSD Daily Forecast Aug 06 2015

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