16/07 – EURUSD outlook eyes on 1.092


16 July, AtoZForex.com, Milano — Technically Daily EURUSD outlook eyes are on the 1.092 level. (5:10GMT)

NEWS THAT CAN HAVE AN IMPACT:

  • EUROZONE. CPI (10:00 GMT)
  • EUROZONE. INTEREST RATE DECISION (12:45 GMT)
  • ECB PRESS CONFERENCE (13:30 GMT)
  • U.S. PHILADELPHIA FED MANUFACTURING INDEX (15:00 GMT)
  • U.S. FED CHAIR YELLEN TESTIFIES (15:00 GMT)

Our yesterday’s view is confirmed and 1.092 approached in a first attempt. Technically speaking the setup is bearish but a lot of very important news and speeches can change this route (pointing ideally down to 1.088).

EURUSD outlook Chart 1: Daily EURUSD eyes on 1.092 (Click on the image to enlarge)

My S/R setup is the following:

First support: 1.092

if First support’s breakout then ->
-> Second support: 1.088 (converging H4/daily trendlines)

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EURUSD outlook Chart 2: H4 EURUSD (Click on the image to enlarge)

if breakout then ->
-> Third support: 1.0815 (converging H4/daily trendlines)

if breakout then ->
-> Fourth support: 1.0678 (converging H4/daily trendlines, fibo arcs)

First resistance: 1.1145 (H4/daily trendlines, fibo arcs)

if First resistance’s breakout then ->
-> Second resistance: 1.1290 (H4/daily trendlines, fibo extension)

if breakout then ->
-> Third resistance: 1.1355 (converging daily trendlines)

if breakout then ->
-> Fourth resistance: 1.1450 (daily trendlines, May’s high)

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