EURUSD Daily Forecast Dec 04 2014

euro-dollar-594

Outlook in EURUSD remains on the downside as long as resistance 1.2315/1.2376 holds on a daily closing basis , support comes at the 1.2240 levels , a halt is likely but a cut would open 1.2150 next further losses will aim the 1.2100 levels.

On the upside , resistance comes at the 1.2315 levels , stability below this level will keep the pair under pressure , however ; above 1.2315 will open main resistance at the 1.2375 levels before the next fall. To reverse risk to the upside , 1.2375 should be taken out on a daily closing basis , If seen focus will be on the 1.3475/1.3530 levels.

In all , as long as resistance 1.2315/1.2375 holds on a daily closing basis , outlook in EURUSD remains on the downside towards the 1.2240 levels ahead of the 1.2150 levels , above 1.2375 faces a recovery risk towards the 1.2475/1.2530 levels before the next fall.

In the medium/ long term forecast , as long as resistance 1.2530/1.2600 holds on a weekly closing basis , outlook in EURUSD remains on the downside towards the 1.2220 levels ahead of the 1.2040/1.1875 levels , above 1.2600 will bring recovery towards the 1.2770/1.2886 levels before the next fall.

EURUSD Daily Forecast Dec 04 2014

EURUSD Weekly Forecast Dec 01 2014

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