EURUSD – Monthly Forecast Aug 2013


The EURUSD maintained a bullish momentum last month topped at 1.3343 , closed at 1.3294 levels above 1.3242 May 2013 high,the monthly close above 1.3242 levels is likely to have large bullish implication towards the 1.3710 levels – Feb 2013 high, stability above 1.3343 levels on a weekly closing basis may recapture 1.3710 with a breach, next resistance is at the 1.4250 levels  – Oct 2011 high, followed by 1.4940 May 2011 high.

On the downside, support is at 1.2744 levels – Apr 2013 low, losing this level on a monthly closing basis will reverse risks to the downside towards the 1.2000 levels.

In all, according to monthly %R Williams, the EURUSD will remain biased to the upside with risk towards 1.3710/1.4250  levels ahead of 1.4940 levels as long as 1.2745 holds on a monthly closing basis, stability below 1.2745 levels will reverse risks to the downside towards the psychological levels 1.2000…





  1. Note that 1.3415 doesn’t appear on the monthly chart so it’s a minor level, main resistance levels are 1.3710 ,1.4250 and 1.4940.

    On the downside minor support is at 1.3242 – May 2013 high , stability above this level – weekly – may expose 1.3415 and retest 1.3710 levels…

    Stability below 1.3242 would delay or decrease the bullish pressure !!

    Main support on monthly is at 1.2745 ahead of 1.2042…

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