The EURUSD maintained a bullish momentum yesterday , topped at the 1.3698 levels , and bottomed at the 1.3507 levels few days ago .Now pressure will be on the 1.3698 levels.

The EURUSD will have to hold above the 1.3698 levels on a daily closing basis to push the market for further upside gains , If seen , It will target the 1.3750 levels where a breach will turn focus on the 1.3815 levels , further out will aim the 1.3890 levels.

Alternatively , a failure to hold above the 1.3698 levels could mean a return to the 1.3620 levels , a halt is suggested , but a break would turn focus the 1.3507 levels , If this level fails, expect the market to weaken further to the 1.3455 , next support comes at 1.3890 levels.

Overall , the EURUSD is likely to retain to its medium term upside bias as long as  support 1.3507 holds on a daily closing basis with risk towards 1.3750 ahead of 1.3815 , below 1.3507 will reverse risks towards 1.3455/1.3390 levels.

Support & resistance : 1.3315 , 1.3390 , 1.3455 , 1.3507 , 1.3620 , 1.3698 , 1.3750 , 1.3815 , 1.3890 , 1.3940 , 1.4000

EURUSD targets 1.3750 levels !

Views: 282

Tags: EUR/USD, EURUSD

Comment by Haitham653 on January 24, 2014 at 11:19am

EURUSD is likely to test 1.3750 before the next move..........

Comment by kamdi eloji on January 24, 2014 at 1:05pm

hi haith eur has dropped all the way to 36865 levels is it likely to still test 1.3750 like you said?

Comment by Haitham653 on January 24, 2014 at 5:02pm

HI kamdi...

1.3750 is not too far from 1.3740...........so the first assumed target has been reached ?!!

At the moment , bearish divergence under development on the daily chart..........

stay tuned for updates.........

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