EURUSD Weekly Forecast Aug 25 2014

EURO-Dollar-min

Outlook in EURUSD remains on the downside as long as resistance 1.3415 holds on a weekly closing basis. Support comes at the 1.3226  levels ahead of the 1.3104 levels (main). At this point, I’d expect strong support from the 1.3104 levels to contain fall from 13993 levels and bring rebound. However; sustained trading  -weekly closing – below the 1.3104 levels will have large bearish implication towards the 1.2745 levels where a cut will turn the focus on the 1.2465 levels.

On the upside. Resistance comes at the 1.3415 levels, sustained trading -weekly closing – above the 1.3335 levels will turn outlook neutral and bring rebound to the upside, but upside move above the 1.3415 levels should be limited by the 1.3700/1.3775 levels.

In all. As long as 1.3415 holds on a weekly closing basis, the outlook in EURUSD remains on the downside towards the 1.3104 levels, above the 1.3415 levels will reverse risks towards the 1.3700/1.3774 levels before the next fall…

In the medium /long term forecast, the pair has reached a critical demand zone (1.3104/1.3294) zone, stability above the 1.3104 levels on a weekly closing basis means rise from 1.2042 is in progress, break of the 1.3774 levels on a weekly closing basis is likely to expose the 1.3993 levels and open 1.4280 /1.4550 levels. On the downside, a sustained trading below the 1.3104 levels on a weekly closing basis will mean a rise from the 1.2042 levels is over at the 1.3993 levels, and fall from the 1.3993 levels is resuming, If seen, a free fall towards the 1.2745/1.2660 levels ahead of the 1.2465 levels is likely…

 

EURUSD Weekly Forecast Aug 25 2014

MARKET DATA

UPCOMING ECONOMIC EVENTS

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