EURUSD needs to clear 1.3710/1.3832 to escape the threat of falling towards 1.3104/1.2750

EURO-Dollar-min

As shown on the monthly chart below , the EURUSD printed resistance at 1.3710 levels – Feb 2013 – this top was confirmed by the bearish divergence of %(R) Williams indicator, 2 months ago; 1.3710 was rejected with bollinger bands reversal pattern , the pair printed a new resistance at 1.3832 , with both levels intact , further decline is suggested towards 1.3104 first , below 1.3104 will aim 1.2754 levels.

On the upside, the pair needs to break and hold above 1.3832 levels on monthly basis,If seen , next resistance would be 1.4940/1.5143 levels.

On the daily chart, resistance is at 1.3681 ahead of 1.3738 levels , at this point I still expect strong resistance from 1.3681/1.3738 to limit rise from 1.3294 and resume fall from 1.3832 levels, break of 1.3738 on a daily basis would challenge 1.3832 levels, break of 1.3832 will open 1.4025 levels.On the downside , below 1.3523 will aim 1.3400/1.3294 levels…..

 

 

 

 

MARKET DATA

UPCOMING ECONOMIC EVENTS