Sunday, May 11, 2014

EURO Under Pressure: Forex Trading Technical Analysis | EURUSD | 5/11/2014





EURO remains under pressure against the Dollar after slipping ~1.0% last week following a Dovish outlook on ECB Monetary Policies from Draghi. The Franklin Market Gauge is still issuing a sell EURO bias heading into the upcoming trading week. Although the trade remains statistically valid, the EURO is currently testing a minor support area.

Short Term  Statistical Outlook: Bearish

Initial Support: ~1.3740-1.3750
Next Support Target: ~1.3710-1.3700

Initial Resistance: ~1.3770
Next Resistance Target: ~1.3790-1.3800


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