Recommendations: LONG positions above 1.3618 with 1.3665 & 1.3700 as next targets.
Alternative scenario:The downside breakout of 1.3618 will call for a slide to 1.3575/1.3550.
Description: Intraday outlook in EURUSD is on the upside with risk towards 1.3665 ahead of 1.3700 as long as support 1.3618 holds on hourly basis , break of 1.3700 will open 1.3740 next .On the downside ,losing the 1.3618 levels on hourly basis would weaken the current bullish run and reverse risks towards the 1.3575/1.3550 levels before the next possible rise.
Support & Resistance :1.3507 , 1.3550 ,1.3575 , 1.3618 (Pivot) , 1.3665,1.3700,1.3740
- U.S Fed’s Yellen Speech , Tuesday at 15:00 GMT . Yellen will testify on the Semiannual Monetary Policy Report before the House Financial Services Committee, in Washington DC. Market Impact :A hawkish outlook is seen as positive (or bullish) for the USD, while a dovish is seen as negative (or bearish)for the USD.