EURUSD Daily Forecast Jul 31 2014

EURO-Dollar-min

Outlook in EURUSD remains  on the downside as long as resistance 1.3458 holds on a daily closing basis , support comes at the 1.3390 levels , sustained trading will open 1.3310 next , further losses will aim the 1.3220 levels……..

On the upside , resistance comes at the 1.3458 levels ahead of the 1.3529 levels (main) , break of 1.3529 on a daily basis will turn outlook neutral for retesting the 1.3561/1.3627 levels before the next fall…….

In all , as long as resistance 1.3458/1.3530 holds on a daily closing basis , outlook in EURUSD remains on the downside towards the 1.3390 levels ahead of the 1.3310 levels , above 1.3458/1.3529 will turn outlook for the 1.3561/1.3627 levels before the next fall….

Notes :

1-The pair approaches to the sloping support line from (1.3672/1.3502) levels , we might see hesitation around that line , It might retreat to the nearest resistance level before the next fall……..but also , sustained trading below the sloping support line will bring a free fall and open 1.3200/1.3000 levels…..

2-According to %R -Williams indicator , signs of losing the downside momentum starts to appear , this is not reversal yet, but the advice is to sell at tops at the moment especially after news is released……..

 

EURUSD Daily Forecast Jul 31 2014

 

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