EURUSD targets 1.3577/710 levels , Support at 1.3461 !

The EURUSD maintained a bullish momentum , printed a new support at the 1.3461 levels last week , this development leaves the pair targeting the 1.3577 levels where a breach is likely , If seen , it will target the 1.3711 levels, where a breach will turn focus on the 1.3785 levels, further upside with aim the 1.3870 levels.

On the downside , If 1.3461 fails on a daily closing basis, expect the market to weaken towards the 1.3325 levels , further downside will aim the 1.3243 levels ahead of the 1.3104 levels.

In all, the pair will remain biased to the upside as long as 1.3461 holds on a daily closing basis with risk towards the 1.3577 levels ahead of the 1.3711 levels , losing the 1.3461 levels will confirm short term topping and might bring reversal to the downside.

Support and resistance levels: 1.2660, 1.2745 , 1.2922 , 1.2992 , 1.3066, 1.3104 (main) , 1.3243 , 1.3324 ,1.3385 , 1.3461 (main), 1.3577 , 1.3710 , 1.3785 , 1.3870, 1.4246

(Trend strength - daily chart )

  • Bullish: above 1.3461
  • Neutral : below 1.3461
  • Bearish : below 1.3104

EURUSD - Daily Chart

EURUSD targets 1.3577/710 levels , Support at 1.3461 !

Views: 279

Comment by Haitham653 on September 30, 2013 at 4:25pm

EURUSD is very bullish on the monthly chart , the last time the pair was that way , was on Dec 2007..

The pair needs to clear 1.3710 on a monthly closing basis to escape the threat of a stronger sell-off , If seen , sooner or later the pair will recapture 1.5000 levels and possible 1.6000 levels......more details tomorrow !!!

Comment

You need to be a member of Forex Social Network to add comments!

Members

© 2019   Created by FXStreet.   Powered by

Badges  |  Report an Issue  |  Terms of Service

Offline

Live Video