EURUSD Daily Forecast Feb 03 2015

Outlook in EURUSD remains neutral with risk to the downside at the moment , resistance comes at the 1.1422 levels , a failure to hold above the 1.1422 levels on a daily closing basis could mean a return to the 1.1223 levels , a halt is likely , but losing the 1.1223 levels on a daily closing basis is needed to restore the downside momentum , If seen , focus will be on the 1.1113 levels ahead of the 1.0959 levels.

On the upside , a failure to hold below the 1.1223 levels  could mean a return to the 1.1422 levels , a halt is likely , but break of the 1.1422 levels on a daily closing basis will signal short term bottoming and open 1.1539 levels before the next fall , however ; If this resistance is taken out  , further upside towards the 1.1679 levels is likely !

In all , as long as 1.1422 resistance holds on a daily closing basis , outlook in EURUSD remains on the downside towards the 1.1223 levels ahead of the 1.1113 levels , above 1.1422 will bring recovery  towards the 1.1539 levels.

Intraday : Minor resistance comes at the 1.1357 levels ,break of the 1357 levels on hourly closing basis will open main resistance at the 1.1422 levels before the next fall , however ;sustained breakout above the 1.1422 levels will pave the way towards the 1.1539 levels, below 1.1260 will open 1.1223 levels ……

 

EURUSD Daily Forecast Feb 03 2015

EURUSD Daily Forecast Feb 03 2015_daily

MARKET DATA

UPCOMING ECONOMIC EVENTS