EURUSD Daily Forecast Oct 31 2014

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Outlook in EURUSD has turned neutral with risk to the downside  , resistance comes at the 1.2638 levels , a failure to hold above the 1.2638 levels on a daily closing basis , could mean a return to the 1.2546 levels , a cut will call for a fall towards the 1.2450 levels , a halt is likely , but further losses will pave the way towards the 1.2335 levels ahead of the 1.2200 levels.

On the upside , resistance comes at the 1.2638 levels , break of the 1.2638 levels on a daily closing basis , will put the pair in recovery mode , but recovery above the 1.2638 levels should be limited below the 1.2770 levels , however ; a clear break above the 1.2770 levels will have large bullish implication towards the 1.2886 levels ahead of the 1.2994 levels .

In all , as long as resistance 1.2638 holds on a daily closing basis , outlook in EURUSD remains on the downside towards the 1.2546 levels ahead of the 1.2450 levels , above the 1.2638 levels , It faces a recovery risk towards the 1.2685/1.2770 levels.

 

EURUSD Daily Forecast Oct 31 2014

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