Weekly Wrap-Up & Outlook | 20/07/2014

6 thoughts on “Weekly Wrap-Up & Outlook | 20/07/2014

  1. Dear Sir,

    Thank you for the weekly forex updates that you have sent us. I have been following them closely.

    Sir; you mention that we need a daily close below 1.35 for EURUSD in order to see it head it further down. Yesterday, it closed below 1.35.

    Can I just ask you for the reason why it is so important to see a daily close below a pivotal level like 1.35 (or for any other pair?)

    I also received a tweet where you said that EURUSD has to close above 1.35 for some pressure off. Dear sir, do you mean that following a daily close below the 1.35 pivotal level, you would expect it to head back up to this new resistance at 1.35 before continuing it’s downward trend?

    Thank you for teaching me again.

    Best Regards,

    Joseph Lim Singapore


    1. Hello Sir, please watch the weekly outlook as we discuss this there.

      If you also view the previous outlooks we discussed in detail about the 1.3500/1.3700 range in euro and you’ll get a much better feel for why we are focus on these levels.

      Daily close above or below that 1.35 should bring some follow-through in the direction of the close (above to the upside and below to the downside).

      Hope this helps.

      All the best,


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