EURUSD Weekly Forecast Oct 13 2014

EURO-Dollar-min

Because of the lack of significant news last week , the EURUSD enjoyed the recovery , but recovery was limited as expected below the  1.2825 levels ,the most important , the pair ended the week below 1.2675 levels , this week has a lot of critical data which could  be a clue about the next move , let’s take a quick look at the most important news which could effect the EURUSD :

Tuesday , Oct 14 2014.

  • From EURO Zone , Germany will release its data on (German ZEW Economic Sentiment) .

Wednesday ,Oct 15 2014

  • US will release its data on Core Retail Sales (MoM) (Sep).
  • US will release its data on  PPI (MoM) (Sep) .
  • US will release its data on Retail Sales (MoM) (Sep).

Thursday  , Oct 16 2014 

Friday , Oct 17 2014

  • US will release its data  on Building Permits (Sep) .

Events will be discussed during the week in real time .

Technical outlook : 

Outlook in EURUSD remain on the downside as long as resistance 1.2825/1.2675 holds on a weekly closing basis , stability below the 1.2675 levels on a weekly closing basis could mean a return to the 1.2500 levels , losing this level would open 1.2389 next , a cut will bring free fall towards 1.2300/1.2127 levels , further downside will pave the way towards the 1.2000 levels.

On the upside , resistance comes at the 1.2675 levels ahead of the 1.2825 levels , break of this level on a weekly basis will turn outlook neutral , If seen , we need to evaluate pair’s activities  above the 1.2825 levels to anticipate the next move .

In all , as long as resistance , 1.2675 holds on a weekly basis ,  outlook in EURUSD remains on the downside towards the 1.2500 levels ahead of the 1.2389 levels , above the 1.2675 levels will bring limited gains  below the 1.2825 levels .

 

EURUSD Weekly Forecast Oct 13 2014

 

 

MARKET DATA

UPCOMING ECONOMIC EVENTS