EURUSD Daily Forecast Jul 16 2014


The EURUSD maintained a bearish momentum yesterday , printed resistance at the 1.3627 levels .This development leaves the pair targeting the 1.3525 levels , a halt is likely , but further downside will aim the 1.3475 levels where a breach will turn focus on the 1.3425 levels….

On the upside , resistance comes at the 1.3596 levels ahead of the 1.3627 levels ( main ) , break of the 1.3627 levels on a daily closing basis will tun outlook neutral for retesting the 1.3681 levels ┬ábefore the next possible fall , If this resistance is taken out , expect the pair reach 1.3745 levels…

In all , as long as resistance 1.3627 holds on a daily closing basis , outlook in EURUSD remains on the downside towards the 1.3525 levels ahead of the 1.3475 levels , above the 1.3627 levels will reverse risks towards the 1.3681 levels before the next fall……….


EURUSD Daily Forecast Jul 16 2014