EURUSD Daily Forecast May 31 2016

EURO-Dollar-min

Outlook in EURUSD remains on the downside as long as 1.1216 resistance holds on a daily closing basis. Support comes at the 1.1057 levels, a halt is likely but a cut would open 1.0955 next. Further down, support comes at the 1.0821 levels…

On the upside, immediate resistance comes at the 1.1216 levels, a break will suggest short term bottoming and pave the way towards the 1.1315/1.1379 levels before the next fall…

Conclusion: The EURUSD continues to face downside threats below the 1.1216 levels…

Intraday: As long as 1.1133 support holds on a 4- hour closing basis, the pair remains in a recovery mode and further upside couldn’t be ruled out , but recovery above 1.1133 should be limited well by the 1.1184 levels where fall resumption is likely, above 1.1184 will extend recovery towards the 1.1217/1.1227 levels before the next fall. Below 1.1133 sees a fall risk towards the 1.1100 levels, further down, support comes at the 1.1057 levels…

EURUSD Daily Forecast May 31 2016

EURUSD Daily Forecast May 31 2016-H4

 

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