EURUSD Daily Forecast Oct 08 2014

EURO-Dollar-min

Outlook in EURUSD remains on the downside as long as resistance 1.2675 holds on a daily closing basis , a failure to hold above the 1.2675 levels on a daily closing basis , could mean a return to the 1.2500 levels where a cut will open 1.2389 levels , further downside will will pave the way towards the 1.2300 levels.

On the upside , resistance comes at the 1.2675 levels , a clear break above this level will signal short term bottoming and  put the pair in recovery mode , but recovery above the 1.2675 levels should be limited by the 1.2825 levels , If this important resistance is taken out , expect the pair to strengthen further towards the 1.2930/1.3000 levels and possible higher towards the 1.3330 levels…

In all , as long as resistance 1.2675 holds on a daily closing basis , outlook in EURUSD remains on the downside towards the 1.2500 levels ahead of the  1.2389 levels , but above the 1.2675 levels , the pair faces a recovery risk .

 

EURUSD Daily Forecast Oct 08 2014

MARKET DATA

UPCOMING ECONOMIC EVENTS