EURUSD Monthly Forecast April 2014


No change , with the key support 1.3471 intact – Feb 2014 low – further upside couldn’t be ruled out , resistance comes at the 1.3825 levels – Feb 2014 high – sustained trading above this level will open 1.4000 levels where a breach will turn focus on the 1.4100 levels , a break will look for the 1.4285 levels , further upside will aim the 1.4500 levels…

On the downside , support comes at the 1.3704 levels – Mar 2014 low –  sustained trading below this level should weaken the current bullish run for retesting main support at the 1.3471 levels , note that downside below 1.3704 levels should be contained well by the 1.3471 levels where reversal towards – above the 1.4000 levels is suggested  …If 1.3471 fails on a monthly basis , expect the pair to weaken further towards the 1.3104 levels , a halt could be seen , but If 1.3104 also fails , eyes will be on the 1.2754 levels.

In all , as long as support 1.3471 holds on a monthly basis , the EURUSD will remain based to the upside towards the 1.4285 levels ahead of the 1.4500 levels , losing the 1.3471 levels on a monthly basis would reverse risks towards the 1.3104 levels and possible lower towards the 1.2754 levels…


EURUSD Monthly Forecast April 2014