EURUSD Daily Forecast Dec 06 2016

EURUSD,Bullish Eyes The 1.0850 Levels !

EURO -dollar - 69875

EURUSD,Bullish Eyes The 1.0850 Levels !

With EURUSD breaking above 1.0708 resistance, the risk has turned to the upside to the 1.0850 levels,a halt is very likely and a reversal may occur?!! however; a break through the 1.0850 levels will extend gains to the 1.0959 levels,further upside, resistance comes at the 1.1068 levels…

On the downside, immediate support comes at the 1.0689 levels ahead of the 1.0624 levels (main), below 1.0624 should weaken recent rise and turn the focus on the 1.0550/1.0470 levels…

Conclusion: The EURUSD continues to face upside threats above the 1.0624 levels…

Considerations:

  • Intraday support comes at the 1.0729 levels, above this level will keep pushing upward,next support comes at the 1.0685 levels ahead of the 1.0624 levels…Intraday resistance comes at the 1.0802 levels ahead of the 1.0860 levels…
  • A daily closing above 1.0762 (yesterday’s closure) will accelerate the move to the 1.0850 levels, a failure to hold above 1.0762 on a daily closing basis will bring consolidation with an upside bias…If seen – buying the pair on dips near support levels – is recommended…

eurusd-daily-forecast-dec-06-2016

 

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