EURUSD Daily Forecast Sept 12 2014

EURO Dollar min

No change , outlook in EURUSD has turned neutral  with risk to the downside at the moment  , resistance comes at the 1.2956 levels , sustained trading – daily closing – above the 1.2956 levels will bring strong recovery towards the 1.3000 levels where a breach will turn focus on the 1.3100 levels , further upside will aim the 1.3159 levels..

On the downside , a failure to hold above the 1.2956 levels could mean a return to the key support 1.2859 where a cut is likely , If seen , next support will be 1.2760 , more losses will pave the way towards the 1.2635 levels..

In all , as long as resistance 1.2956 holds on a daily closing basis , outlook in EURUSD remains on the downside towards the 1.2859 levels ahead of the 1.2760 levels , above the 1.2956 levels will bring rebound towards the 1.3000/1.3100 levels…

Note: on smaller time frames , selling the pair is recommend after rejection from the 1.2956 levels..



EURUSD Daily Forecast Sept 12 2014