EURUSD Weekly Forecast Jun 02 2014


The EURUSD continued its bearish momentum last week , outlook remains on the downside this week for 1.3550 levels , a halt could be seen , but a breach would open 1.3430 next , further downside will aim the 1.3300 levels.

On the upside , resistance comes at the 1.3695 ahead of 1.3774 ( main ) , stability below ┬áboth levels will keep the bearish momentum intact , however ; break of 1.3774 on a weekly basis will turn outlook neutral for retesting the 1.3882/1.3993 levels before the possible fall, to reverse risks to the upside , 1.3993 should be taken out , If seen , the pair will extend gains towards the 1.4100/1.4200 levels….

In all , as long as resistance 1.3774 holds on a weekly closing basis , outlook in EURUSD remains on the downside towards the 1.3476 levels and possible lower , break of 1.3774 levels on a weekly basis will reverse risks towards the 1.3882/1.3993 levels.



EURUSD Weekly Forecast  Jun 2014