EURUSD – Weekly Forecast 02-06 Dec 2013

EURO-Dollar-min

Recommendations: LONG positions around 1.3540 with 1.3650 & 1.3740 as next target.
Alternative scenario:The downside breakout of 1.3515 will call for a slide to 1.3400/294.
Description: With the key support 1.3515 intact, further rise couldn’t be rued out , resistance is at 1.3650, break of 1.3650 would open 1.3740 levels, further out will aim the 1.3800/1.3832 levels, a clear break above 1.3832 levels will have large bullish implication towards 1.4000 levels.On the downside, losing the key support 1.3515 would weaken the current bullish run for retesting 1.3400 levels, at this point we need to be careful, strong rebound could be seen from 1.3400, below 1.3400 would open 1.3295 ahead of 1.3104 levels…

Support and resistance levels : 1.3104 , 1.3190 , 1.3295 , 1.3400 , 1.3515 , 1.3650,1.3740 , 1.3832 , 1.3870 , 1.4025

 

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1 COMMENT

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