EURUSD Weekly Forecast Nov 24 2014

euro-dollar-594

The EURUSD continued its bearish momentum last week , printed resistance at the 1.2600 levels and bottomed at the 1.2374 levels .This development leaves the pair targeting the 1.2235 levels , a halt is likely , but losing this level would open 1.2040 next , further downside will aim the 1.1875 levels.

On the upside , resistance comes at the 1.2530 levels ahead of the 1.2600 levels (main) , a clear break above the 1.2600 levels will turn out look neutral towards the 1.2770/1.2886 levels before the next fall.

In all , as long as resistance 1.2530/1.2600 holds on a weekly closing basis , outlook in EURUSD remains on the downside towards the 1.2240 levels ahead of the 1.2040/1.1875 levels , above 1.2600 will bring recovery towards the 1.2770/1.2886 levels before the next fall.

Note that stability below 1.2374 on a weekly closing basis will accelerate the bearish move towards the 1.2040/1.1875 levels , while  a rejection from 1.2374 could test 1.2530/1.2600 before the next fall…

 

EURUSD Weekly Forecast Nov 24 2014

MARKET DATA

UPCOMING ECONOMIC EVENTS

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