EURUSD – Analysis and Forex Trading Signals – 16 May 2014

EURUSD – Analysis and Forex Trading Signals – 16 May 2014

Analysis:

Yesterday EURUSD ended with no change against the U.S. dollar. EURUSD started falling down by late of yesterday Asian trading session will expectation to break 1.365 zone to move down further and this move was supported by with low inflation and weak GDP data in the zone. However, US Industrial Production data and Philadelphia Fed manufacturing reports surprised to the down side helped EURUSD get back to opening level thank to weakend USD.

1.3650 zone is the key support level to watch, EURUSD need more fuel to break this level. May be this is the target for next week.

For the upside, 1.3730 is the key resistant to watch. EURUSD need to break this level for its retracement in the down trend.

There is no significant report today and weekend is coming, we dont expected any break today, EURUSD may move within the range 1.3650 – 1.3730 today.

EURUSD 16 May 2014

Forex Trading Signals:

Resistant zone:

+1.3970 – 1.400

+1.390

+1.380 – 1.386

+1.3730

Support zone:

+ 1.370

+ 1.365

+ 1.3566

+ 1.3476

Forex Signals 247.

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