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 ……..


  

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Tags: EURUSD

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.

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