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EUR/USD Forecast 12 Jun 13

EUR/USD Forecast 12 Jun 13
Wednesday, June 12th, 2013 @ 2:57 pm by The Geek

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TheGeekKnows.com Learn Forex Trading and read exclusive EUR/USD Forecast and AUD/USD Forecast Reviews.

Good day forex traders.

In our previous review we noted that the EUR/USD was facing a resistance and close observation should be done. On the fundamental front, economic conditions continue to favor a positive sentiment and hence risk taking may increase.

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Technical Analysis

Looking at the EUR/USD 4 hourly chart above we note that the currency pair is on a bullish stance this week. It is currently facing an immediate resistance of 1.3320. Should this line fails, we might be looking at 1.3380 next.

A bearish return might see us heading back down to 1.3260. This line is a historical support and is also the middle of the bollinger bands.

Don’t miss the fundamental analysis
continue on to TheGeekKnows.com for the fundamental analysis of the EUR/USD Forecast Review to understand more about the underlying market sentiments.

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