[m.youssif]

EURUSD Weekly Summary: A broader look at the daily chart


The EURUSD attempted to push lower this week, slipped below 1.3500 but whipsawed to the upside and closed higher at 1.3670. My medium bearish bias since the fall from 1.4281 remains intact, but a look at the daily chart below suggests that the long term bullish outlook is also remains valid as price still moves inside the major bullish channel since the strong bullish momentum from 1.1875. From this point of view, I have two technical levels that need to be watched very closely for the upcoming week. On the upside, the 1.3830/50 resistance area seems to be a key resistance level at this phase. A clear break above that area could be a threat to the medium term bearish bias testing 1.4000. On the downside, another move below 1.3500 could trigger further bearish momentum testing 1.3333 and the lower line of the bullish channel, which could be a threat to the daily chart bullish outlook.



Have a great weekend and see you guys next week.

[m.youssif]

EURUSD Weekly Summary: A broader look at the daily chart


The EURUSD attempted to push lower this week, slipped below 1.3500 but whipsawed to the upside and closed higher at 1.3670. My medium bearish bias since the fall from 1.4281 remains intact, but a look at the daily chart below suggests that the long term bullish outlook is also remains valid as price still moves inside the major bullish channel since the strong bullish momentum from 1.1875. From this point of view, I have two technical levels that need to be watched very closely for the upcoming week. On the upside, the 1.3830/50 resistance area seems to be a key resistance level at this phase. A clear break above that area could be a threat to the medium term bearish bias testing 1.4000. On the downside, another move below 1.3500 could trigger further bearish momentum testing 1.3333 and the lower line of the bullish channel, which could be a threat to the daily chart bullish outlook.



Have a great weekend and see you guys next week.