EURUSD Weekly Forecast Sept 15 2014

EURO-Dollar-min

Despite hesitation last week , outlook in EURUSD remains on the downside as long as resistance 1.2978/ 1.3077 holds on a weekly closing basis , support  comes at the 1.2859 levels , losing this level would open 1.2754 next , further losses will pave the way towards the 1.2660 levels ahead of the 1.2500 levels .

On the upside , minor resistance comes at the 1.2978 levels , sustained trading above this level would only weaken the current bearish run for retesting the 1.3077 levels (June 30 2013 , weekly high ) before the next fall …However ; sustained trading – weekly closing- above the 1.3077 levels will turn outlook neutral in medium term outlook , but upside move above the 1.3077 levels  should be limited strongly by the 1.3318/1.3432 levels …

In all , as long as resistance  1.2978/ 1.3077 holds on a weekly closing basis , outlook in EURUSD remains on the downside towards the 1.2735/1.2660 levels and possible lower towards the 1.2500 levels , a clear break above the 1.3077 levels will bring strong recovery towards the 1.3318/1.3432 levels before the next fall….

 

 

EURUSD Weekly Forecast Sept 15 2014

 

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