The EURUSD continued its bullish momentum as suggested last week , but with some hesitation , bottomed at the 1.3833 levels , topped at the 1.3965 levels and closed at the 1.3910 levels , few pips below 1.3915 levels…..
No change , outlook in EURUSD remains on the upside as long as support 1.3706 holds on a weekly basis , resistance comes at the 1.3915 levels , sustained trading – or weekly closing – above the 1.3915 levels is needed to resume the upside offensive , If seen , the pair will target the 1.4035 levels where a breach will turn focus on the 1.4180 levels , further out will aim the 1.4350 levels .
On the downside , a failure to hold above the 1.3915 levels could mean a return to the 1.3833 levels , a halt is likely , but losing the 1.3833 levels would open main support at the 1.3706 levels .sustained trading – weekly closing – below 1.3706 will signal short term topping and turn outlook neutral , but downside below 1.3706 should be contained well by the 1.3476 levels and bring resumption of the bullish trend…
In all , as long as support 1.3706 holds on a weekly basis , the EURUSD will remain based to the upside towards the 1.4035 levels ahead of the 1.4180 levels . Losing the 1.3706 levels will turn outlook neutral and bring consolidations above the 1.3476 levels before the next rise .