Home EURUSD: Bear Threats Not Over Quite Yet

EURUSD: Our bias on EUR continues to point lower while holding below the 1.3905 level.

Though closing marginally higher the past week, except it returns above the mentioned level, the risk remains lower. Support lies at the 1.3779 level where a break will aim at the 1.3737 level followed by the 1.3676 level.

Further down, support stands at the 1.3600 level where a violation will target the 1.3550 level. Conversely, medium term outlook on EUR remains higher but it will have to recapture the 1.3905 level and 1.3966 level to resume that uptrend.

Further out, resistance resides at the 1.4000 level, its big psycho level. All in all, EUR remains biased to the upside in the long term but faces corrective weakness threats.


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FX Tech Strategy

FX Tech Strategy

FX Tech Strategy provides simple forex research for Intra-day, swing and position traders. For over 6 years, FXTechstrategy has been committed to providing forex traders including intra-day, swing and position traders exceptional forex research with technical analysis expertise that makes trading decisions easy and painless. FXTchstrategy won Best Technical Analysis (forex best awards) by fxstreet in 2011 and was finalists, Star Awards by traderplanet in 2011 & 2012.