EURUSD weekly Forecast May 12 2014

EURO-Dollar-min

The EURUSD  rose last week towards 1.3996 levels and reversed strongly bottomed at the 1.3744 levels and closed at the 1.3760. Outlook in EURUSD has turned neutral and both sides are suggested…

On the upside. To resume the upside offensive. A sustained trading – weekly closing – above the 1.3905 levels is needed. If seen the pair will target the 1.4100 levels where a breach will turn the focus on the  1.4200 levels.

On the downside. A sustained trading – weekly closing – below the 1.39695 levels will signal short term topping. If seen. The pair will target the 1.3560 levels ahead of the 1.3476 levels.

In all… The EURUSD is likely to consolidate within 1.3965/1.3905 range before the next move. A weekly close above the 1.3905 levels will open 1.4100/1.4200 levels. While a weekly close below the 1.3965 levels will open the 1.3471 levels…

EURUSD weekly Forecast May 12 2014

MARKET DATA

UPCOMING ECONOMIC EVENTS