EURUSD – Weekly Forecast 15 Jul 2013

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The EURUSD maintained a bullish momentum last week, bottomed at 1.5755 and topped at 1.3206, now pressure will be on the key resistance 1.3206, the EURUSD will have to hold above the 1.3206 levels on a weekly closing basis to push the market for further upside gains, If seen it will pave the way towards 1.3415 levels where a breach will flip bias back to the upside for retesting 1.3710 levels.

Alternatively, a failure to hold above the 1.3206 levels could mean a return to the 1.2755 levels, a break below this level will target 1.2660 ahead of 1.2400 levels.

In all, the EURUSD is likely to consolidate with bearish bias within 1.2755/1.3415 range before the next breakout…

MARKET DATA

UPCOMING ECONOMIC EVENTS