EURUSD needs to clear 1.3582/1.3620 to escape the threat of falling to 1.3400

EURO-Dollar-min

The EURUSD halted its losses after forming a short term bottom at the 1.3507 levels , according to 4 hour chart resistance comes at the 1.3582 levels , the pair was rejected this early morning with bearish divergence , stability below this level will keep the bearish momentum intact, support comes at the 1.3540 levels , losing this level on a 4 hour basis will accelerate the bearish move and may expose 1.3507 levels , If seen , It will extend losses to  1.3470 levels ahead of  the 1.3400 levels !!

On the upside ,stability above 1.3540 on a 4 hour closing will keep pushing on 1.3582, break of 1.3582 on a 4 hour basis would weaken the bearish threat , If seen , next main resistance comes at the 1.3620 level, this level has been confirmed by the daily and the 4 hour chart, If this important resistance is taken out  , expect the market to rally towards 1.3650/1.3680 levels.

 

EURUSD needs to clear 1_3582_1_3620 to escape the threat of falling to 1_3400

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