EURUSD

EURUSD: Bullish But With Caution

EURUSD - Having EUR managed to closed higher the past week after testing a high of 1.3966 level, risk points higher. However, with the 1.4000 level resistance nearby it may continue to fail ahead of that level with downside risk envisaged. Resistance resides at the 1.3966 level, its Mar 13 2014 high with a cut through there paving the way for a run at the 1.4000 level, its big psycho level. We expect bears to come in here and turn it lower but if eventually violated further upside is likely. Conversely, resistance resides at the 1.4050 level and then the 1.4100 level. On the downside, support lies at the 1.3833 level and then the 1.3800 level. Below here will aim at the 1.3772 level. Further down, support comes in at the 1.3685 level. All in all, EUR remains biased to the upside on further recovery.

This report is prepared solely for information and data purposes. Opinions, estimates and projections contained herein are those of FXTechstrategy.com own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed to be reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which FXTechstrategy.com incurs any responsibility. FXTstrategy.com does not accept any liability whatsoever for any loss arising from any use of this report or its contents. This report is not construed as an offer to sell or solicitation of any offer to buy any of the currencies referred to in this report.

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