Forex trading signals and analysis for EURUSD – 16 Jul 2014

Forex trading signals and analysis for EURUSD – 16 Jul 2014

Analysis:

After testing 1.37 EURUSD can not move higher but falling down instead. Yesterday, euro also broke 1.3685 to move lower. All the key economics data show no support for the Euro, it is likely that ECB will provide more stimulus for the eurozone.

We expect EURUSD will continue to move lower in the coming days to test key support at 1.35. The daily trading range should be narrow and depend on the market’s appetite for USD.

Screenshot 2014-07-16 11.08.28

Forex Trading Signal:

We will looking for sell signals to short EURUSD around 1.3585 – 1.36 today.

Resistant zone:

+1.3970 – 1.400

+1.390

+1.3775

+1.3730

+1.370

+1.3585 – 1.3600

Support zone:

+1.3500

+ 1.3476

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