The EURSD continued its bearish correction last week , but fall from 1.3966 levels was  temporary – halted by the key support 1.3706 as suggested , as a result ; outlook in EURUSD remains neutral with risk to the upside , note that stability above the 1.3706/1.3748 levels could mean a return to the  1.3915/1.3965 levels  , break of 1.3850 levels will build pressure on the 1.3915/1.3965 levels . If this important resistance is taken out , expect the pair to extend gains towards the 1.4035 levels where a breach will turn focus on the 1.4185 levels…..

On the downside , support comes at 1.3748 ahead of 1.3706 (main) , sustained trading – weekly closing – below the 1.3706 will suggest that fall from the 1.3966 levels is resuming , If seen , next support comes at the 1.3642 levels , a break will open 1.3560 levels , further downside will aim the 1.3476 levels ….

In all as long as support 1.3706 holds on a weekly basis , the EURUSD will remain based to the upside towards the 1.4035 levels ahead of the 1.4185 levels , sustained trading below the 1.3706 levels would open 1.3642/1.3560 levels ahead of 1.3476 levels..

Note : A consolidation – stability – below the 1.3748 levels will build pressure on the 1.3706 levels and may break lower , while a consolidation above the 1.3748 level could surprise 1.3966 levels with a long bullish candle on weekly 300 -500 length ……..


Views: 447


Comment by Michel Miles on March 31, 2014 at 2:02pm

Hi Mr. Haitham! What do you think about a daily close at 1.3845? Is it really to happen?

Comment by Haitham653 on March 31, 2014 at 2:36pm

Why not ?!!! 1.3845 is not impossible ?!!

What I care about today is the monthly closing ?!!!!

Note that a monthly close above the 1.3710 - Feb 2013 high - will give us strong bullish momentum , If seen , the risk towards the 1.4250/1.4500 levels will be increased ...

Anyway , as long as 1.3710 holds on a monthly basis , 1.3415 should serve as strong support and contain any downside move ...............

Comment by Haitham653 on March 31, 2014 at 2:43pm

By the way , On monthly chart , EURUSD is in extended bearish divergence , at the moment no sign of topping yet , so the pair is likely to extend its gains towards the 1.4250/1.4500 levels to top around that area before the next fall.............

To eliminate the bullish threat ,, the EURUSD needs to break and hold below the 1.3415 levels on a monthly closing basis ( 2- 3 monthly closes ) ...otherwise the risk will remain towards the 1.4250/1.4500 levels...just a matter of time...........

Comment by Michel Miles on March 31, 2014 at 2:47pm

Thanks! Anyway I will await to buy at 1.3750/75. Eur price is to high now. 

Comment by Davaanyam on March 31, 2014 at 4:23pm

Hi Mr. Haitham! Today GBP/USD this ratio may be reduced?

Comment by Haitham653 on March 31, 2014 at 7:01pm

GBPUSD is bullish on the daily chart , sudden rise could be seen the upcoming days...

Note that a weekly close above 1.6700 levels would open 1.7000 levels........

Comment by Davaanyam on March 31, 2014 at 11:07pm

thank you.


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


Join us on Facebook Now!!!

Hi everyone

This website was closed June 2nd 2015.

Please, join us now at Facebook where you can keep sharing your thoughts about Forex with our community of traders:

OVER 2,500 READERS!!!!

© 2015   Created by FXStreet.

Badges  |  Report an Issue  |  Terms of Service


Live Video