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Good day forex traders.
In the previous EUR/USD forecast we noted that the 1.3 line remains pivotal to the currency pair. The fundamental situation remains uncertain due to the Cyprus crisis while the US economy continues to improve.
Looking at the EUR/USD daily chart above we noted that the 1.3 line held as a resistance and the currency pair headed south for the week.
Looking at the technical indicators on the chart, there is nothing to suggest an immediate reversal for now. An immediate resistance for the EUR/USD would be the middle of the bollinger bands which is around 1.2950. On the other hand the immediate support would be 1.2800.
continue on to TheGeekKnows.com for the fundamental analysis of the EUR/USD Forecast Weekly Review to understand more about the underlying market sentiments.