[m.youssif]

EURUSD Forecast
The EURUSD had a bearish momentum yesterday after failed to move consistently above 1.3770 resistance area, bottomed at 1.3576 and hit 1.3544 earlier today in Asian session. This fact keeps the bearish medium outlook intact but would need a clear break below 1.3446 to continue the bearish scenario testing 1.3333. The bias is bearish in nearest term testing 1.3446 especially if price able to make a clear break below 1.3544. Immediate resistance at 1.3630. Break above that area could trigger further bullish momentum testing 1.3700 – 1.3730 area. On fundamental side, beside the Ireland issues which drive the market sentiment lately, we will have some Euro zone manufacturing and services PMI numbers and US Prelim GDP and existing home sales today as catalyst to move the market.

[m.youssif]

EURUSD Forecast
The EURUSD had a bearish momentum yesterday after failed to move consistently above 1.3770 resistance area, bottomed at 1.3576 and hit 1.3544 earlier today in Asian session. This fact keeps the bearish medium outlook intact but would need a clear break below 1.3446 to continue the bearish scenario testing 1.3333. The bias is bearish in nearest term testing 1.3446 especially if price able to make a clear break below 1.3544. Immediate resistance at 1.3630. Break above that area could trigger further bullish momentum testing 1.3700 – 1.3730 area. On fundamental side, beside the Ireland issues which drive the market sentiment lately, we will have some Euro zone manufacturing and services PMI numbers and US Prelim GDP and existing home sales today as catalyst to move the market.