EURUSD Daily Forecast Mar 03 2016

EURUSD, Bearish Eyes The 1.0450 levels!

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EURUSD, Bearish Eyes The 1.0450 levels!

The EURUSD maintained a bearish momentum, topped at the 1.0550 and bottomed at the 1.0494 levels. This development leaves the pair targeting the 1.0450 levels, a halt is likely and a reversal may occur, however; a cut through the 1.0450 levels would open 1.400, further down, support stands at the 1.0300 levels…

On the upside, resistance comes at the 1.0550 levels, a breakthrough the 1.0550 levels will turn outlook bullish and build a pressure on the 1.0614 levels, a price hesitation is likely around 1.0614 but a break will turn the focus on the 1.0708 levels…

Conclusion: The EURUSD continues to face downside threats below the 1.0550 levels…

Note: For Binary Options: Put on EURUSD around 1.0550 levels. Expiration time: end of the day.