EURUSD Weekly Forecast Dec 01 2014

euro-dollar-594

Despite hesitation last week , outlook in EURUSD remains on the downside as long as resistance 1.2530/1.2600 holds on a weekly closing basis , support comes at the 1.2360 levels where a cut will open 1.2215 levels , a halt is likely , but losing this level would open 1.2041 next , further downside will pave the way towards the 1.1875 levels ..

On the upside , resistance comes at the 1.2530 levels ahead of the 1.2600 levels (main) , a clear break above the 1.2600 levels will turn out look neutral towards the 1.2770/1.2886 levels before the next fall.

In all , as long as resistance 1.2530/1.2600 holds on a weekly closing basis , outlook in EURUSD remains on the downside towards the 1.2220 levels ahead of the 1.2040/1.1875 levels , above 1.2600 will bring recovery towards the 1.2770/1.2886 levels before the next fall.

Note that stability below 1.2360 on a weekly closing basis will accelerate the bearish move towards the 1.2020/1.1875 levels , while  a rejection from 1.2360 could test 1.2530/1.2600 before the next fall…

 

EURUSD Weekly Forecast Dec 01 2014

 

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