In the previous EUR/USD forecast we noted that the currency pair was almost a doji. It was settled in between the middle and top bollinger band.
As mentioned previously we might be in a consolidation phase. Any bullish reversal would need to breach it 1.14. The middle bollinger band might function as an immediate support. It was at the support region of 1.12.
Looking at the EUR/USD weekly chart above we note that the currency pair was bearish for the week. It had attempted to stretch below the support of 1.12 but had since settled around it as expected.
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