The EURUSD maintained a bearish momentum yesterday , printed resistance at the 1.3627 levels .This development leaves the pair targeting the 1.3525 levels , a halt is likely , but further downside will aim the 1.3475 levels where a breach will turn focus on the 1.3425 levels….

On the upside , resistance comes at the 1.3596 levels ahead of the 1.3627 levels ( main ) , break of the 1.3627 levels on a daily closing basis will tun outlook neutral for retesting the 1.3681 levels  before the next possible fall , If this resistance is taken out , expect the pair reach 1.3745 levels…

In all , as long as resistance 1.3627 holds on a daily closing basis , outlook in EURUSD remains on the downside towards the 1.3525 levels ahead of the 1.3475 levels , above the 1.3627 levels will reverse risks towards the 1.3681 levels before the next fall……….



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Tags: EURUSD

Comment by Stefan Hummert on July 16, 2014 at 9:29am

thanks for your analysis as usual :)

hint: you have a typo at "... of the 1.3267 level ...", I think you meant 1.3567 ...

Comment by Haitham653 on July 16, 2014 at 2:33pm

Thanks....If you back a little bit to the top " printed resistance at the 1.3627 ", or previous line , I was talking about main resistance 1.3627............... you should figure it out yourself......it's 1.3627 , yesterday's high......GMT +3 ... 

Anyway.......thanks.........

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