EURUSD Forecast for the week 14th April 2014

EURUSD Forecast for the week 14th April 2014

• Bearish Cypher? -
• 1.40 on the cards?

Weekly Chart

• Huge Bullish Week Candle reacting from the 1.37 level and have pushed prices well above the 1.38

Daily Chart

• Continuous 4 day rally brings us back above 1.38, and would be ideal to dig into a 4hr chart to see any hammer formation hammer to ride it potentially up to 1.40 or equal highs
• MACD is crossing at the bullish level, suggesting continue bullish bias. however Stochastic suggesting its overbought
• RSI is not overbought

Hourly Chart

• We could be travelling back in an ascending channel towards equal highs or the 1.40 zone level which on a daily and weekly provides very good resistance if we get there
• We have  Bearish Cypher setup, however given the fact we are close to potential support it doesn't give us room for profit 

Outlook Trade opportunity

• Looking forward, It would be ideal if prices retest the breakout level, and give us a bullish candle setup to ride this up. Noting perhaps early next week the US Dollar index might pick up and will lead a weaker euro.
• Remain Bullish sentiment going towards 1.40

Risk Level __

Tips -

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