EUR/USD Forecast 29 Jan 13

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By ltan | January 30, 2013 2:49 AM EST

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Good day forex traders and koalas.

In the previous EUR/USD forecast we noted the resistance of 1.3480 for any bullish momentum. We also noted the relative calm of late regarding the Euro Zone. Sentiments were improving. Confidence was high in Germany and equities for the region were generally good.

 

 

Looking at the EUR/USD 4 hourly chart above we note that the 1.3480 resistance held and the currency pair is testing it again. I LOVE IT WHEN MY CHARTS WORK ! Again do note that if the resistance is breached, we may see 1.36 next. Any bearish correction will see the EUR/USD falling to 1.3400 first.

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