EURUSD Outlook for week commencing 12/02/17 (Cautiously Short)

FX_IDC:EURUSD   Euro / U.S. Dollar

On a 4 hour basis, a 4 hour sustained close below 1.05959/1.05810 cluster area (purple arrow) should open up route to 1.04515 key support level (green arrow). However we are attentive to bullish divergence seen between 4 hour MACD and price (black lines). On the upside, a 1 hour sustained price close above key resistance 1.07111 (blue arrow) will open up route to near 1.08092/1.08512 cluster resistance zone (brown arrow). A daily close above the 1.08092/1.08512 cluster resistance zone will open up 1.10473/1.11104 cluster resistance zone as target (orange arrow).

Happy trading and may the pips be with you!!!
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out