EURUSD Intraday Forecast Mar 14 2014

Recommendations: LONG positions above 1.3842 with 1.3875 & 1.3900 as next targets.

Alternative scenario: The downside breakout of 1.3842 will call for a slide to 1.3807/13770.

Description: The EURUSD declined from 1.3965 levels yesterday , tested main support on daily at the 1.3842 levels , despite that fall , Intraday outlook in EURUSD is neutral with risks the upside as long as support 1.3842 holds on hourly basis, stability above the 1.3842 levels could mean a return to the 1.3915 levels , a clear break above the 1.3915 would open 1.4000 levels.On the downside , sustained trading below the 1.3842 levels  - daily close is better – will confirm short term topping and open 1.3720 levels before the next possible rise.

Support & Resistance : 1.3750 ,1.3775,1.3807, ,  1.3842 (Pivot)  ,1.3878 , 1.3915 , 1.3965 , 1.4000

Views: 429

Comment by Dr evil on March 14, 2014 at 7:33am

Great analysis as always.... i've entered longs at 1.3850 with SL 20 pips 
trying to pick low of the daily candle here.... to me it looks like EU has bounced from the trendline on daily...lets see

Comment by Stephano on March 14, 2014 at 1:10pm
I like your daily information given in reading the post, it will be good to follow your blofg


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