EURUSD Daily Forecast Oct 20 2014

EURUSD
EURUSD

Outlook in EURUSD remains neutral with risk to the upside , support comes at the 1.2705 levels , a failure to hold below the 1.2705 levels on a daily closing basis , could mean a return to the 1.2886 levels , a break would open 1.2930 next , further upside will aim  the 1.2994 levels . If this important resistance is taken out , focus will be on the 1.3115/1.3159 levels.

On the downside , support comes at the 1.2705 levels , losing this level on a daily closing basis will bring a corrective pullback towards the 1.2620 levels . At this this point , 1.2620 levels should contain any pullback  below 1.2705 levels and bring rebound , If 1.2620 fails , next support will be 1.2500 and possible 1.2389 !!!!!

In all , as long as support 1.2705 holds on a daily closing basis , outlook in EURUSD remains on the upside towards the 1.2886 levels ahead of the 1.3000 levels , below 1.2705 faces a pullback risk .

 

EURUSD Daily Forecast Oct 20 2014

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