Weekly forecast for August 11-15, 2014

The pair hit the 50MSma and closed below шею Also it hit the 100WSma but closed above it. The pair has been making lower lows and lower highs for a row of 5 weeks. This week, in early Asia's session the pair made a mild bearish opening, higher at 1.3410. The pair has support at 1.3360 (100WSma), below this, 1.3332 will act as a minor support break, below this, again, it will make a new low at 1.33/1.3295 (November 2013, low). On the north side, it has resistance at 1.3444, above this, it can fly up to 1.3545 levels. "Selling the rally" will mint the money.

Support 1.3332 1.3295 1.3245

Resistance 1.3444 1.35 1.3545

Intraday cmp 1.3402

The pair made a high at 1.3432 and started correcting from there. Currently, the pair is trading at 10hrs low near the support level of 1.3390 (34hrsma), below this, 1.3385 (12ema) and 1.3373 (21hrsma). The pair will face selling pressure below 1.3350 towards the previous low at 1.3334 and 1.3295 levels.

Hourly- We recommend to buy only above 1.3416.

Intraday- Safe selling is only below 1.3350 or sell with sl 1.3416.

Strong up move is only above 1.3445 towards 1.3485, 1.35 and 1.3550.