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In the previous EUR/USD forecast we noted that the currency pair could go either ways and it was crucial to observe how it reacted at the 1.3 level. The US Non-Farm Payroll brought about a mixed bag of results. The unemployment rate dropped but was reported to be mainly attributed to part time employment.

Solution : ProRealTime

Technical Analysis

Looking at the EUR/USD chart above we note that the EUR/USD dipped below the 1.3 line soon after opening and that pretty much set the tone for half of the week. It did bounce off the strong support region of 1.28 and had since tested 1.3 again.

We also note that the currency pair is making lower tops as seen from the downwards trend line above.

Once again we need to observe how the currency pair reacts towards the 1.3 level on opening.

Don’t miss the fundamental analysis,

continue on to TheGeekKnows.com for the fundamental analysis of the EUR/USD Forecast Weekly Review to understand more about the underlying market sentiments.