EURUSD Weekly Forecast Jan 19 2015

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Outlook in EURUSD remains on the downside as long as 1.1800 resistance holds on a weekly closing basis. support comes at the psycho level 1.1500, a halt is likely and we might see hesitation or a reboundĀ from that level, however; a clear break below the 1.1500 levels would open 1.1350 next, further down will target the 1.1150 levels.

On the upside, resistance comes at the 1.1800 levels, break of the 1.1800 levels on a weekly closing basis will turn outlook neutral and open 1.2000/1.2200 levels before the next possible fall.

In all, as long as 1.1800 resistance holds on a weekly closing basis, the EURUSD remains under heavy pressure with risk towards the 1.1500 levels where a cut will open 1.1350/1.1150 levels, above the 1.1800 levels will suggest short-term bottoming and open 1.2000 /1.2200 levels before the next fall…

 

EURUSD Weekly Forecast Jan 19 2015

 

MARKET DATA

UPCOMING ECONOMIC EVENTS

2 COMMENTS

  1. i hope u will be fine ,i want some info about your post . what u mean by (a clear break below the 1.1500 levels would open 1.1350 next , further down will target the 1.1150 levels)

  2. Hello Mazhar…

    A sustained break or a clear break is generally mean a break that has the power to close above/below a trend channel or to close above/below a critical level of support or resistance. A sustained (clear) break hints a continued move in the same direction of the breakout.

    (a clear break below the 1.1500 levels would open 1.1350 next, further down will target the 1.1150 levels)

    It means a close below 1.1500 levels followed by stability and continuous move below 1.1500 levels will pave the way towards the 1.1350 levels, If 1.1350 fails to hold and we have another break below the 1.1350 levels, the focus will be on the 1.1150 levels as next target…

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