Huge Bullish Week Candle reacting from the 1.37 level and have pushed prices well above the 1.38
Daily Chart
Continuous 4 day rally brings us back above 1.38, and would be ideal to dig into a 4hr chart to see any hammer formation hammer to ride it potentially up to 1.40 or equal highs
MACD is crossing at the bullish level, suggesting continue bullish bias. however Stochastic suggesting its overbought
RSI is not overbought
Hourly Chart
We could be travelling back in an ascending channel towards equal highs or the 1.40 zone level which on a daily and weekly provides very good resistance if we get there
We have Bearish Cypher setup, however given the fact we are close to potential support it doesn't give us room for profit
Outlook Trade opportunity
Looking forward, It would be ideal if prices retest the breakout level, and give us a bullish candle setup to ride this up. Noting perhaps early next week the US Dollar index might pick up and will lead a weaker euro.
Remain Bullish sentiment going towards 1.40
Risk Level __
Tips -
Always take note of any economical news event on our provided calender below
0 Response to "EURUSD Forecast for the week 14th April 2014"
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