EURUSD – Weekly Forecast 18-22 Nov 2013

EURO-Dollar-min

Recommendations: SHORT positions below 1.3546  with 1.3350 & 1.3200 as next target.
Alternative scenario:The upside breakout of 1.3546 will call for a rebound to 1.3650/832.
Description: The EURUSD  was rejected from the key support 1.3325 , sustained break below 1.3325 would open 1.3104 levels, at this point I still expect strong support above 1.3104 to contain downside from 1.3832 and bring reversal to the upside , but , If 1.3104 fails ,expect the market to weaken further towards 1.2754 levels.On the upside , resistance is at 1.3546, a clear break above this level would confirm support at 1.3294 and open 1.3650/1.3832 levels .

Support and resistance levels (weekly chart) : 1.2042 , 1.2287 , 1.2660 , 1.2754 , 1.3104 , 1.3325 , 1.3546 , 1.3832 , 1.4280 , 1.4400, 1.4940

 

MARKET DATA

UPCOMING ECONOMIC EVENTS