EURUSD Forex Projections: Highlighting the Key Price Levels

EURUSD Currency Projections

Following the US employment reports the US Dollar strengthened against a basket of currencies in the Foreign Exchange market (Forex) including the Euro.

We will display several charts for the benefit of exporters and importers that are familiar with technical analysis and then simplify our EURUSD projections for the upcoming week.

EURUSD Weekly Chart

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EURUSD Weekly Chart 07/11/15

EURUSD Weekly Chart 07/11/15

EURUSD Daily Chart

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EURUSD Daily Chart 07/11/15

EURUSD Daily Chart 07/11/15

EURUSD 4hr Chart

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EURUSD 4hr Chart 07/11/15

EURUSD 4hr Chart 07/11/15

EURUSD Weekly Trend

By observing EURUSD weekly chart it appears the currency rate is nearing the end of its weakness. While there is room for further weakness towards 1.0650 we do not expect further weakness in the exchange rate. The price may dip towards 1.0650 before posting moderate gains in the Foreign Exchange market. The weekly chart provides to broader outlook for Euro Dollar, often between 30 – 60 days. Early estimation for EURUSD target is 1.0950.

EURUSD Daily Trend

After understanding the weekly chart we proceed to the daily chart that provides the shorter-term projection for the currency pair. If the price is able to range above 1.0816 by the 22:00 GMT any day this week the exchange is expected to continue rising towards 1.0915. If EURUSD is able to rage above 1.0915 that will pave the way for further gains towards 1.1007. It is essential to highlight Euro Dollar may still dip towards 1.0650 before posting the gains we are anticipating.

EURUSD Intraday Trend

The 4hr chart projects the near-term projections for EURUSD. 1.0650 remains the anchor of our general Euro Dollar outlook for the upcoming week. If the rate is above 1.0842 we would expect the gains to continue towards 1.0897. If EURUSD is able to break above 1.0897 that will pave the way for further gains towards 1.0994. if Euro Dollar succeeds in trading above 1.0994 the gains are then expected to resume towards 1.1105.

EURUSD Outlook Summary

Despite the recent weakness in the exchange rate the rate is nearing its bottom (1.0650), which means the Euro is expected to rise against the US Dollar.

EURUD Key Price Levels Summary

WEEKLYDAILYINTRADAY
1.0650 (S)1.0650 (S)1.0842
-----1.08161.0897
-----1.09151.0994
-----1.10071.1005


(S) = Referred to as support, which is the price level we would expect to contain any weakness in the exchange rate should it be reached.

The  4hr chart has a higher price target than the daily chart. We have chosen to be more conservative with the daily projection. If it requires clarification please email us.

As part of the plan you will benefit from email notifications throughout the week on Euro Dollar exchange rate.

08/04/16 UPDATE: EURUSD posted moderate gains in the Forex market, inline with our weekly chart’s projections.

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EURUSD Weekly Chart 08/04/16

EURUSD Weekly Chart 08/04/16

Last Updated on July 24, 2016