EURUSD Analysis (27-31)

After testing weekly first support (1.26230) EUR/USD trying to take some correction towards the weekly pivot level (1.27540). This pair still in consolidation mood and coming week should take breakout because of fundamental force. Currently price level just below the daily first resistance and it can continue to the daily 2nd resistance (127071) level where have EMA 50 level and its working as a important resistance. So from that level it can move again the depth.

So coming week we can see again EURUSD downside pressure. EURO ZONE facing continues suffering of low inflation, high unemployment.

On the other hand continues positive economic date make USD more stronger.

WAVE ANALYSIS: Check Daily Chart

H4 Chart Analysis: H4 Chart

 

WEEKLY PIVOT LEVEL:

EUR/USD

1.2221

1.2488

1.2623

1.2754 (PP)

1.2890

1.3021

1.3288

EURUSD Analysis (27-31)