EURUSD Daily Forecast Oct 09 2014


The EURUSD maintained a bullish momentum yesterday , broke above the 1.2675 levels and entered the recovery zone . Next resistance comes at the 1.2682 levels , where strong rejection is suggested , however ; break of the 1.2825 levels on a daily closing basis , will extend  recovery towards the 1.2930/1.3000 levels .

On the downside , support comes at the 1.2620 levels , below this level will turn outlook again towards the 1.2500 levels , otherwise , recovery could extend further higher……

In all , as long as support 1.2620 holds on a daily closing basis , recovery in EURUSD could extend higher towards the 1.2825 levels where a breach will open 1.2930/1.3000 levels , below 1.2620 will terminate the current bullish run and open 1.2500 levels..


EURUSD Daily Forecast Oct 09 2014