The EURUSD continued its bullish momentum last month , closed above the 1.3824 levels (Feb 2014 high ) . As a result ; monthly outlook in EURUSD remains on the upside towards the 1.4120 levels , a halt is likely , but a breach would open 1.4500 next , further upside will aim the 1.4940 levels –  ( May 2011 high ).

On the downside , support comes at the 1.3672 levels (April 2014 low ) ahead of 1.3471 ( main ) (Feb 2014 low) , stability above support levels will keep the bullish momentum intact , However ; losing the 1.3471 levels on a monthly closing basis , will turn outlook neutral and open 1.3104 levels before the next rise , If 1.3104 ( Sept 2013 low) fails on a monthly closing basis , expect the pair to weaken further towards the 1.2754 levels ( July 2013 low).

In all , as long as support 1.3471 holds on a monthly closing basis , outlook in EURUSD remains on the upside with risk towards the 1.4120 levels ahead of the 1.4500 levels , losing the 1.3471 levels would reverse risks towards the 1.3104 levels before the next possible rise….


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