EURUSD Rises With Low Momentum !

EURO Dollar min

The EURUSD rose the past few days , after rebounding from 1.3624 levels. At the moment the pair is neutral with risk to the downside , resistance is at  1.3782 , break of this level on a daily basis will expose 1.3810/1.3832 and  have large bullish implication towards 1.4000 levels ahead of 1.4280 levels.

On the downside , support is at 1.3624 levels , losing this level on a daily basis will extend weakness towards 1.3550 levels, a break will open 1.3470 , further out will aim 1.3400 levels. At this point buyers my back to market again above 1.3400 levels, and another leg up towards / beyond 1.3800 levels is suggested, losing 1.3400 levels will bring a free fall towards 1.3180/1.3100 levels.

Considerations :

  1. Minor resistance comes at 1.3722 ( 17 Dec 2013 low) , any consolidation or stability below this level will keep the pair vulnerable to the downside, break of this level would challenge 1.3782 levels.
  2. Main resistance comes at 1.3782  ( 17 Dec 2013 high ), any consolidation / stability above 1.3782 levels will bring sudden rise towards 1.4000 levels  and beyond.







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