EURUSD Intraday Forecast May 07 2014


Recommendations: LONG positions above 1.3870 with 1.3950  & 1.4000 as next targets.

Alternative scenario: The downside breakout of 1.3870 will call for a slide to 1.3810/1.3773.

Description: Intraday outlook in EURUSD remains on the upside as long as support 1.3870 holds ,break of 1.3950 levels will open 1.4000 levels , further upside will aim the 1.4035 levels . On the downside , losing the 1.3870 levels on hourly basis will turn outlook neutral for retesting 1.3810/1.3773 levels before the next possible rise.

Support & Resistance : 1.3773, 1.3810, 1.3845,  1.3870 (Pivot)  ,1.3910 , 1.3950 , 1.4000 , 1.4035


EURUSD Intraday Forecast May 07 2014




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