EURUSD May 19 2014 weak but With Caution

EURUSD: Although EUR is biased to the downside, it faces a recovery higher threats. This is coming on back of its rejection candle print on Thursday (weekly) last week.

If recovery is triggered, expect further upside towards the 1.3774 level where a break will set the stage for a run at the 1.3839 level. Further out, resistance resides at the 1.3905 level and 1.3966 level where a break will aim at the 1.4000 level, its big psycho level.

On the other hand , support lies at the 1.3676 level followed by the 1.3600 level. Further down, support stands at the 1.3550 level where a violation will target the 1.3500 level. All in all, EUR remains biased to the downside in the medium term but faces recovery higher.



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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.