eur usd weekly technical analysis : heading owards 1.08-1.05

eur usd weekly forecast for 29 feb to 4 march 2016

eur usd weekly forecast for 29 feb to 4 march 2016

Eur usd pair this week closed with a loss. This was a second weekly loss for the euro against the dollar. After touching high near 1.14 euro slumped on profit booking as well as fresh selling. On downside 1.08 and 1.05 are previous weekly chart support zones as well as target levels for current move. On upside 1.11 and 1.14 are strong resistances as well as stop loss levels for short positions. This week downside move is fresh breakdown below major average and has the potential to record low below the previous low of 1.04. In larger picture euro is trading in a wild band of 1.04 on downside and 1.14 on the upside after falling from 1.39 levels. So this is major consolidation phase before next move. for premium currency tips by sms visit subscription page.

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