EURUSD Daily Forecast Aug 20 2014


The EURUSD continued its bearish momentum yesterday , printed resistance at the 1.3363 levels .This development leaves the pair targeting the 1.3205 levels , a halt is likely , but losing this level would open 1.3070 next , further downside will aim the 1.2920 levels…

On the upside , resistance comes at the 1.3363 levels ahead of the 1.3432 levels , break of the 1.3433 levels on a daily basis will turn outlook bullish and extend gains towards the 1.3530 levels ahead of the 1.3627 levels……

In all , as long as resistance 1.3432 holds on a daily closing basis , outlook in EURUSD remains on the downside towards the 1.3205 levels and possible lower towards the 1.3070 levels….break of the 1.3432 levels on a daily basis will reverse risks towards the 1.3530/1.3627 levels…..


EURUSD Daily Forecast Aug 20 2014