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EUR/USD Forecast Weekly 25 Mar 13

EUR/USD Forecast Weekly 25 Mar 13
Sunday, March 24th, 2013 @ 11:15 am 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 the previous EUR/USD forecast we noted that the 1.3 line remains pivotal to the currency pair’s price action. The RSI on the daily suggested that the bearish pressure was weakening.

20130324-180332.jpg

Technical Analysis

Looking at the daily EUR/USD chart above, we note that a forex gap happened. Again as I said over the years, forex gaps can happen anytime and hence ensure that proper money management is always there.

Despite a bearish dip, the EUR/USD had climbed back towards the 1.3 line. I love it when my chart works! 1.3 remains pivotal to the price action indeed. A look at the RSI suggests again that bearish momentum may be fading.

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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