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EUR/USD Forecast 13 May 13

EUR/USD Forecast 13 May 13
Sunday, May 12th, 2013 @ 3:30 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 morning forex traders and readers.

In the previous EUR/USD forecast, we noted that the currency pair was making higher lows and hence a bullish momentum may be forming. The US Non-Farm Payroll also brought about positive sentiments. Nonetheless caution was advised as a squeezing range was noted later in the week.
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Technical Analysis

Looking at the EUR/USD daily chart above we note that the currency pair was bullish until late week when a overwhelming bearish pressure took over. This is hence why we must always practice proper money management. Forex is never 100% predictable.

As the EUR/USD dip below 1.3 , it has a slight makings of a double top and if indeed so, we may see 1.28. Continue to monitor closely and be careful not to catch a falling knife.

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.

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