EUR/USD Forecast Weekly 11 Mar 13

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In the previous EUR/USD forecast we note the strong bearish momentum hitting the 1.3 support. Being a usually strong support and resistance region, caution was advised as it could go either ways from here. This made the monitoring of on going developments necessary.

Technical Analysis

Looking at the EUR/USD daily chart above we note that the currency pair is now currently at the 1.3 support region again! The trading week gave us volatility as the currency pair alternated between bullish and bearish momentum. We do note an immediate support of sorts at 1.2960 too. While the greater trend is obviously bearish, I would urge all to be cautious in the event of any bullish correction back to 1.3100 / 1.3150.

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.