EURUSD Daily Forecast Nov 05 2014

EURO-Dollar-min

Outlook in EURUSD  has turned neutral with risk to the downside , resistance comes at the 1.2576 levels , a failure to hold above the 1.2576 levels on a daily closing basis could mean a return to the 1.2480/1.2438 levels , a cut will resume the whole fall towards the 1.2375 levels , a halt is likely , but losing the 1.2375  levels will continue losses towards the 1.2300/1.2240  levels .

On the upside , resistance comes at the 1.2576  levels , sustained trading – daily closing – above the 1.2576  levels will put the pair in recovery mode , but upside move above the 1.2576  levels should be limited  by the 1.2638  levels .However ; a clear break above the 1.2638  levels will extend recovery towards the 1.2770 levels.

In all , as long as resistance 1.2576  holds on a daily closing basis , outlook in EURUSD remains on the downside towards the 1.2438/1.2375  levels , a clear break above the 1.2576  levels will bring recovery towards  the 1.2638 levels before the next fall..

 

EURUSD Daily Forecast Nov 05 2014

MARKET DATA

UPCOMING ECONOMIC EVENTS