EURUSD Daily Outlook

The EURUSD had a bearish momentum on Friday. On h4 chart below we can see that the price has been testing the trendline support for several times now but the trendline support still hold. Technically I think the Euro is still under pressure and if the trendline violated to the downside we should see further downside momentum testing 1.3790 key support level. Immediate support is seen at 1.3920. Break below that area could trigger further bearish momentum. Initial resistance at 1.4050. Break above that area should bring us into no trading zone. CCI about to cross the 1– line down both on h1 and h4 chart suggesting a potential downside pressure.

EURUSD Daily Supports and Resistances:

  • S1= 1.3914
  • S2= 1.3830
  • S3= 1.3723
  • R1= 1.4105
  • R2= 1.4212
  • R3= 1.4296
  • width=300