Recommendations (1): SHORT positions below 1.3845 with 1.3800 & 1.3770 as next targets.
Alternative scenario: The upside breakout of 1.3845 will open 1.3900/1.3965 levels.
Recommendations (2): LONG positions above 1.3748 with 1.3810 & 1.3845 as next targets.
Alternative scenario: The downside breakout of 1.3748 will call for a slide to 1.3720/07.
Recommendations (3): LONG positions above 1.3707 with 1.3750 & 1.3800 as next targets.
Alternative scenario: The downside breakout of 1.3707 will call for a slide to 1.3650 levels.
Description:The EUURUSD has broken above the 1.3845 levels , this development has printed support at the 1.3748 levels , but the problem the pair has failed to hold its gains above the 1.3845 levels . As a result , Intraday outlook in EURUSD turns neutral , to resume the upside offensive , the pair needs to break and hold its gains above the 1.3845 levels , In other words ; a daily closing above the 1.3845 followed by a consolidation above the 1.3845 , sooner or later will recapture the 1.3965 with a breach and open the 1.4035 levels ahead of the 1.4185 levels , But in return , stability below the 1.3845 levels could mean a return to the 1.3750 levels where a breach will turn focus on the 1.3706 levels , note that the pair printed support at the 1.3706 several weeks ago on a weekly basis , so I think 1.3706 – If reached – should bring rebound to the upside at least 100 pips and possible more before the next move , remember I still expect strong support from the 1.3750/1.3706 levels to contain fall from 1.3965 and bring rally resumption above the 1.3965 levels a daily closing below the 1.3706 levels is an early warning for large reversal and may send the pair towards the 1.3476 levels…
Support & Resistance : 1.3707, 1.3750, 1.3792 ,1.3845, 1.3875 , 1.3900 , 1.3933 , 1.3965