EURUSD Daily Forecast May 09 2014

The EURUSD maintained a bearish momentum yesterday , topped at the 1.3993 levels and bottomed at the 1.3832 levels . Outlook in EURUSD has turned neutral at the moment for retesting 1.3773 levels.

On the downside , the EURUSD will have to hold below the 1.3832 levels on a daily closing basis to open main support at the 1.3773 levels , a halt is likely , or we we might see a lower leg below the 1.3773 levels before returning to the upside in the same day , however , losing the 1.3773 levels on a daily closing basis will signal short term topping , If seen , the pair will extend losses towards the  1.3736 levels , further downside will aim the 1.3672 levels.

On the upside , a failure to hold below the 1.3832 levels on a daily closing basis , could mean a return to the 1.3870 levels where a breach will turn focus on the 1.3910 levels , further upside will aim the 1.3993 levels. To resume the upside offensive ; 1.3993 should be taken out on a daily basis , If seen , the pair will target the 1.4035 levels ahead of the 1.4085 levels.

In all , the EURUSD is likely to consolidate within 1.3735/1.3993 rage before the next move , sustained trading below 1.3735 would open 1.3471 next , while break of 1.3993 will turn focus on the 1.4200 levels.

Note that I’d expect strong support from the 1.3736 levels to contain fall from 1.3993 levels and bring rally resumption above the 1.3993 levels…sustained trading below the 1.3736 will suggest that large bearish move is on the way towards the 1.3471 levels…


Written by http://www.askhaitham653.com/

Views: 416

Tags: EURUSD

Comment by Haitham653 on May 9, 2014 at 6:49am

Update : sell after rejection from 1.3870, 1.3910 or 1.3993 levels and buy after rejection from 1.3832 , 1.3773 or 1.3736 levels …

Comment by Haitham653 on May 9, 2014 at 7:14am

According to the daily chart , there's a scope for more downside move but , the pair is likely to test 1.3870/1.3910 before making any significant move below 1.3832 levels...... 

Comment by Bero Maatouk on May 9, 2014 at 7:23am

Morning haitham wanna ask you if you have any update for NZDUSD daily basis plz ???

Comment by Haitham653 on May 9, 2014 at 7:52am

sorry for late Bero ..been busy too much yesterday .....wait a moment.. be back soon...

Comment by Bero Maatouk on May 9, 2014 at 8:04am

Nooo prob Haitham take your time :) okii ....

Comment by Haitham653 on May 9, 2014 at 8:05am

NZDUSD is neutral at the moment , the pair is likely to consolidate within 0.8600/0.8743 range before the next move....

On the downside , a daily close below 0.8600 would open 0.8515 levels ahead of 0.8435 levels.

On the upside : resistance at the 0.8656 levels , a daily close would open 0.8743 next, a halt is likely, note that  a daily close above 0.8743 levels is needed to resume the upside offensive ,If seen , the pair will target the 0.8820 levels ahead of the 0.8900 levels...

Comment by Bero Maatouk on May 9, 2014 at 8:20am

OKiii Noted Haitham and as usual many many thx to you :)))

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