EURUSD Daily Forecast Jun 05 2014

EURO-Dollar-min

The EURUSD continued to consolidate below the 1.3650 levels the past few days , To resume the downside offensive , the pair will have to hold below the 1.3585  levels on a daily closing basis , If seen , it will target the 1.3476 levels , a halt could be seen , but a breach would open 1.3400 next , further downside will aim the 1.3300 levels…

On the upside , resistance comes at the 1.3638 levels , stability below this level on a daily closing basis will keep the pair under pressure , but break of 1.3638 levels on a daily basis will turn outlook neutral for retesting the 1.3744 levels before the next possible fall , If 1.3744 is taken out , expect the pair to strengthen further towards the 1.3843/1.3910 levels , a breach will turn focus on the 1.3993 levels…

In all , as long as resistance 1.3638 holds on a daily basis , outlook remains on the downside towards the 1.3585 levels ahead of the 1.3476 levels , break of 1.3638 will reverse risks towards the 1.3744 levels before the next possible fall.

 

 

EURUSD Daily Forecast Jun 05 2014

MARKET DATA

UPCOMING ECONOMIC EVENTS