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In the previous EUR/USD forecast we noted that the currency pair was again around the region of 1.11. This region continued to function as a pivot of sorts. Due to the uncertainty that surrounded the Greek debt crisis, both sides of the trade remained a possibility. The currency pair might dip to 1.08.

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Technical Analysis

Looking at the EUR/USD weekly chart above we note that the currency pair was bearish for the week. It is now near the extended support target of 1.08. Our forecast was correct. As mentioned 1.08 is a bearish target.

Don’t miss the full forecast. Continue on to TheGeekKnows.com for the full technical analysis and the fundamental analysis of the EUR/USD Forecast Weekly Review to understand more about the underlying market sentiments.

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