EURUSD Weekly Forecast Jul 07 2014

EURO-Dollar-min

The EURUSD declined from the weekly resistance 1.3668 levels last week , Anyway ;  Outlook in EURUSD remains on the downside , support comes at the 1.3573 levels ahead of the 1.3511 levels (main) , sustained trading – weekly closing – below this level will extend losses towards the 1.3380 levels , further downside will pave the way towards the 1.3215 levels where a breach will turn focus on the 1.3030 levels….

On the upside , resistance comes at the 1.3668 levels ahead of 1.3774 ( main) , stability below resistance could mean a return to  the 1.3573/1.3511 levels ,even break lower ,  However ; sustained trading – weekly closing – above the 1.3774 levels will reverse risks towards the 1.3882/1.3993 levels , a halt is likely , but If this important resistance is taken out , expect the pair to fly towards the 1.4125 levels , further upside will aim the 1.4290 levels.

In all , as long as resistance 1.3668 holds on a weekly closing basis , outlook in EURUSD remains – cautiously – on the downside towards the 1.3380 levels ahead of the 1.3215 levels . Break of 1.3668 levels will reverse risks towards the 1.3774 levels and possible higher towards the 1.3882/1.3993 levels…

 

EURUSD Weekly Forecast Jul 07 2014

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