EURUSD Daily Forecast Oct 03 2014


Outlook in EURUSD  has turned neutral with risk to the downside , resistance comes at the 1.2698 levels , a failure to hold above the 1.2698  levels on a daily closing basis could mean a return to the 1.2570 levels , a cut will resume the whole fall towards the 1.2500 levels , a halt is likely , but losing the 1.2500  levels will continue losses towards the 1.2389  levels .

On the upside , resistance comes at the 1.2698  levels , sustained trading – daily closing – above the 1.2698  levels will put the pair in recovery mode , but upside move above the 1.2698  levels should be limited  by the 1.2825  levels .However ; a clear break above the 1.2825 levels will turn outlook bullish towards the 1.2930 /1.2994  levels before the next move….

In all , as long as resistance 1.2698  holds on a daily closing basis , outlook in EURUSD remains on the downside towards the 1.2570/1.2500  levels , a clear break above the 1.2698 levels will bring recovery towards  the 1.2825 levels before the next fall..


EURUSD Daily Forecast Oct 03 2014