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EUR/USD Analysis and Forecast may be Move Down Near 1.3150 for 25 August 2014

August 25, 2014 10:24 am

EUR/USD currency pair continued bearish trend due to FOMC announcement and increase in existing home sales and Philadelphia Fed Manufacturing Index. On friday this pair move more downward due to ECB President Mario Draghi speaks, euro face losses due to Ukraine crisis and if Russia talk on peace then may be Ukraine condition better then see improvements in euro.

Today Overview for EUR/USD:

We are expecting that this currency pair move downward due to euro session weaker numbers of forecast for German Business Expectations, German Current Assessment, German Ifo Business Climate Index and EUR/USD already opened with downward gap, so now bearish mode is active. Technically our predicted outlook for EUR/USD currency pair against as fundamentals like bullish session start from 1.3245 to 1.3300, but today suitable trade with fundamentals and if this currency pair break 1.3245 then buy is best.

Recommendations:

Today now sell trade is best, because euro going weaker and dollar stronger at evening time due to New Home Sales. Sell entry point at 1.3205/10 and take profit area 1.3150 and stop loss 1.3235. Please remember bearish mode very strong.

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