EURUSD Weekly Forecast Apr 21 2014


The EURUSD halted its gains last week , topped at the 1.3864 levels and bottomed at the 1.3789 levels. Outlook in EURUSD turns neutral with risk to the upside , resistance comes at the 1.3865 levels , sustained trading above this level would challenge the 1.3905 levels , a break would open 1.3966 next , further upside will open 1.4030 levels  where a breach will turn focus on the 1.4170 levels.

On the downside , losing the 1.3789 levels would open main support at the 1.3695 levels, a halt is likely , but sustained trading – weekly closing – below the 1.3695 will signal short term topping and open 1.3560/1.3471 levels.

In all , as long as support 1.3695 holds on a weekly basis, outlook in EURUSD remains on the upside with risk towards the 1.4030 levels ahead of the 1.4170 levels..


EURUSD Weekly Forecast Apr 21 2014