EURUSD Daily Forecast Jun 19 2014


The EURUSD maintained a bullish momentum yesterday , broke above the the key resistance 1.3578 , topped at the 1.3598 levels, bottomed at the 1.3541 levels , and closed at the 1.3594 levels..

As a result ; outlook in EURUSD has turned to the upside , this scenario should recapture the 1.3620 levels , a break would ¬†open 1.3676 next , If this important resistance is taken out , expect the pair to strengthen further towards the 1.3745 levels where a breach will turn focus on the 1.3843 levels before the next possible fall….

On the downside , support comes at the 1.3540 levels ahead of 1.3511 (main) , stability above support levels could push the pair towards the 1.3620/1.3676 levels , however ; sustained trading – daily closing – below the 1.3511 levels , will suggest false bullish break out , and is likely to open , 1.3455 levels ahead of 1.3400 levels, further downside will aim the 1.3335 levels…

In all , as long as support 1.3511 holds on a daily closing basis , outlook in EURUSD remains on the upside towards the 1.3620/1.3676 levels, below 1.3511 will reverse risks towards the 1.3455/1.3400 levels….


EURUSD Daily Forecast Jun 19 2014