EURUSD Intraday Forecast May 21 2014

EURO-Dollar-min

Recommendations: SHORT positions  below 1.3744 with 1.3685  & 1.3650 as next targets.

Alternative scenario: The upside breakout of 1.3744 will call for a rebound  to 1.3775/1.3810.

Description:  Intraday outlook in EURUSD remains on the downside , as long as resistance 1.3744 holds ,support comes at the 1.3685 levels ahead of the 1.3647 levels , a break would open 1.3600 next. On the upside : sustained trading – hourly closing  – above the 1.3744 will turn outlook neutral for retesting the 1.3775/1.3810 levels , further upside will call for a run towards the 1.3843 levels .At this point I’d expect strong resistance from the 1.3810/1.3843 levels  to limit rise above 1.3744 and bring another fall.


Support & Resistance : 1.3600, 1.3647, 1.3685,  1.3744 (Pivot)  ,1.3775 , 1.3810 , 1.3843

 EURUSD Intraday Forecast May 21 2014

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