FX.co ★ Monthly forecast and an intraday recommendation on EUR/USD for September 01-05, 2014

EUR/USD

Monthly view - September, 2014

The strong US dollar pushed the Euro to 1.3132 and closed at the lowest point in the previous week and month as well. The pair has the nearest minor support at 1.3105-1.31 and 1.30 is the major support. This week's crucial data is going to hit the wires at the ECB press conference on Thursday. Traders keep an eye on this event. On the higher side 1.3250 is the inital monthly resistance, above this 1.3420 is the major one. The pair closed at the lowest point of the month. It indicates some more room for downside in the ST for the 1.30 and 1.2766 levels.

Support is at 1.3105-1.31, 1.30, and 1.2766.

Resistance is at 1.3250, 1.3420, and 1.3540.

Until the pair closes below 1.3294, selling on a rise is the best strategy for the weekly and monthly basis.

Intraday cmp 1.3128.

The pair is struggling to cross 1.3135 in an early Pacific session. We recommend buying only above 1.3150 for an hourly trading / speculation perspective. The pair has resistance at the 1.3148 1.3176, 1.3187, and 1.32 levels. Until the price closes below 1.32, selling on an up move will gain profit.

Resistance is at 1.3148, 1.3176, and 1.3197.

Safe buy above 1.3150, strong up move only above 1.32.

Fresh sell only below 1.31.

Bears - Sell on a rise, until the h4 candle close above 1.32.