EURUSD Weekly Forecast May 05 2014

The EURUSD continued  its bullish momentum last week , printed support at the 1.3773 levels , broke above the 1.3865 levels , as a result ; outlook remains to the upside towards the 1.4000 levels , a halt is likely , but sustained trading above the 1.4000 levels would open 1.4170 next , further upside  will aim the 1.4330 levels .

On the downside , support comes at the 1.3843 ahead of 1.3773 levels , losing this level would open main support at the 1.3695 levels , If this level fails, expect the market to weaken further towards the 1.3560/1.3471 levels.

In all , as long as support 1.3695 holds on a weekly basis , outlook in EURUSD remains on the upside with risk towards the 1.4000 levels ahead of the 1.4170 levels , losing the 1.3695 levels on a weekly closing basis , will reverse risks towards the 1.3560 levels ahead of the 1.3471 levels before the next possible rise.


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