Daily Technical Analysis - Ahmed Azzam
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EUR-USD
On 18.7.2014 EURUSD traded between a high of 1.3535 and a low of 1.3490 closed at 1.3523. Today the pair trades above the support line and the weekly bullish trend line at the price of 1.3490.
Upside Scenario: As long as the support line and the weekly bullish trend line at the price of 1.3490 hold, a rise to levels of 1.3585 then 1.3640 could be seen.
Downside Scenario: If EURUSD makes a breakout of the support line and the weekly bullish trend line at the price of 1.3470, this could help the pair to decline to the levels 1.3415, then 1.3365.