EURUSD Daily Forecast Dec 05 2014

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Outlook in EURUSD has turned neutral at the moment. Resistance comes at the 1.2455 levels while support comes at the 1.2279 levels.

On the downside. A failure to hold above the 1.2455 levels on a daily closing basis could mean a return to the 1.2279 levels where a cut will open 1.2240 levels, further losses will pave the way towards the 1.2150/1.2100 levels.

On the upside. A failure to hold below the 1.2279 levels could mean a return to the 1.2455 levels where a breach will open 1.2530 levels, further upside will open main resistance at 1.2636 levels. however; A break of this resistance on a daily closing basis will turn outlook bullish towards the 1.2770/1.2886 levels.

In all. As long as resistance 1.2455 holds on a daily closing basis. The outlook in EURUSD remains on the downside towards the 1.2280/1.2240 levels ahead of the 1.2150/1.2100 levels…

Note that as long as 1.2337 holds on a 4-hour closing basis, intraday outlook remains on the upside towards the 1.2415/1.2455 levels, at this point you need to be careful, 1.2415/1.2455 is a strong resistance, the pair may spike to this area before falling, stability above 1.2415 is likely to open the area beyond 1.2455 levels. On the downside, below 1.2337 levels will open 1.2280/1.2240 levels and possibly lower…

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

EURUSD Daily Forecast Dec 05 2014

EURUSD Weekly Forecast Dec 01 2014

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