EUR/USD Forecast: Downtrend in control

EUR/USD 21st, April 2015

EUR/USD Analysis

EUR/USD fell again after another test to 1.1050 range and found a minor support around 1.0655. The uptrend is very limited and the trading range too. I am expecting EUR/USD to keep on sideline moves in the next 2 days with a trial to test the resistance line around 1.0950, I am still not recommending to trade EUR/USD really till things become much trendy but, if you’ve to do that so, Selling is your only option (~Watch resistance levels closely).

The EUR/USD still has a minor support at 1.0459 and it tested it once, I am still expecting another test to this support level. Greece’s smoke is still there and it feels like this story will never end. Watch out your steps because the EUR is ready to fall again in no time!

The EUR/USD has the following major resistance and support levels:

  • RESISTANCE: 1.1055
  • SUPPORT: 1.0459

Breaking these levels in any direction will take us higher or lower.

My Daily SELL advice (30 pips stop-loss applied):

  • Sell at: 1.0940 – Take Profit 1.0890 (50 pips profits)
  • Sell at: 1.0910 – Take Profit 1.0850 (60 pips profits)
  • Buy at: 1.0650 – Take Profit 1.0750 (100 pips profits)

This signal is valid during trading week: 21st-24th April 2015