EURUSD: Vulnerable, Loses Upside Momentum !

EURO -dollar - 69875

EURUSD: Vulnerable, Loses Upside Momentum !

With EURUSD failing to continue higher through the 1.2058 levels. A short-term resistance has been printed at the 1.2069 levels. While its immediate risk remains higher. The EURUSD will have to break and hold above the 1.2058 levels on a daily closing basis to prevent a return to the downside.

Immediate support stands at the 1.1913 levels where a cut will aim the 1.1773 levels. Further down, support stands at the 1.1730/1.1670 levels.

On the upside. Resistance stands at the 1.2058 levels with a break above here opening the way to the 1.2165 levels. We might see hesitation, but a break will turn the focus on the 1.2350 levels.

Conclusion: The EURUSD remains exposed to the downside below the 1.2058 levels…

How to trade EURUSD: since the pair is bullish on weekly time-frame above 1.1867 levels, so buying the pair on dips within 1.1913/1.1770 range is recommended..or buy it above 1.2058 (daily closing basis)….in all cases stay tuned for updates…

EURUSD Weekly Forecast

Forex Weekly Forecast Sept 11 2017

EURUSD, Bullish Eyes The 1.2357 Levels! The EURUSD continued its bullish momentum last week, bottomed at the 1.1867 levels and topped at the 1.2091 levels. This development leaves the pair targeting the 1.2357 levels, a halt is likely and a reversal may occur, however; a break would open 1.2569 levels, further upside, resistance comes at […]