EURUSD – Weekly Forecast 08 Jul 2013

EURO-Dollar-min

The EURUSD continued to maintain its bearish momentum last week, topped at 1.3077 and bottomed at 1.2805 levels, now pressure will be on the key support 1.2805, the EURUSD will have to hold below the 1.2805 levels on a weekly closing basis to push the market for further downside losses, If seen it will target the 1.2660 levels where a breach will turn focus on the 1.2500 levels, note that a daily close below 1.2805 is an early warning for 1.2660 levels.

On the upside resistance is at 1.2970, 1.3030, 1.3077 and 1.3145, so you may short after rejection from any of those levels with a target towards 1.2700 levels, In all as long as 1.3150/1.3030 holds on a daily closing basis the pair will remain under pressure with risk towards 1.2700/650 levels.

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