EURUSD Daily Forecast Mar 07 2014

EURO-Dollar-min

The EURUSD maintained a strong bullish momentum yesterday , printed support at 1.3720 levels . This development leaves the pair targeting the 1.4000 levels where a breach will turn focus on the 1.4120 levels , further out will aim the 1.4280 levels.

On the downside , minor support comes at 1.3832 levels , stability above this level will build strong pressure on the 1.4000 levels, losing the 1.3832 levels would open 1.3775 next , below 1.3775 will look for main support at the 1.3693/1.3720 levels , note that any downside move should be contained well by the 1.3693/1.3720 levels, to reverse risks to the downside ; sustained trading below the 1.3693/1.3720 levels is needed on a daily basis  , If seen , next support will be 1.3585 ahead of the 1.3476 levels.

In all , as long as support levels 1.3693/1.3720 hold on a daily closing basis , the EURUSD will remain based to the upside towards the 1.4000 levels ahead of 1.4120 levels .. Losing the 1.3693/1.3720 levels would reverse risks towards the 1.3585 levels.

 

EURUSD Daily Forecast Mar 07 2014

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