EURUSD Daily Forecast Jul 07 2014


The EURUSD  maintained  a bearish momentum last Friday , broke below the 1.3600 levels , printed resistance at the  1.3610  levels .This development leaves the pair targeting the 1.3555 levels , a halt is likely , but losing this level on a daily closing basis will open 1.3510 next , further downside will aim the 1.3470 levels…..

On the upside , main resistance comes at the 13610 levels , break of the 1.3610 levels on a daily closing basis , will reverse risks to the upside towards the 1.3663/1.3700  levels , If this resistance is taken out , expect the pair to strengthen further towards the 1.3744/1.3843  levels……..

In all , as long as resistance 1.3610  holds on a daily closing basis, outlook in EURUSD remains on the downside towards the  1.3555/1.3510 levels, above the 1.3610  levels will reverse risks towards the 1.3663/1.3700  levels and possible higher towards the 1.3744/1.3843 levels…


EURUSD Daily Forecast Jul 07 2014