Good day readers.
In the previous EUR/USD forecast we noted that the currency pair was again bullish for the week. It hit our bullish target of 1.1 as expected.
The middle bollinger band had served as a resistance and this was expected. Any bullish momentum would need to breach the 1.1 region first. A correction would likely have the EUR/USD heading towards 1.08.
Looking at the EUR/USD weekly chart above we note that the currency pair tested the middle bollinger again and failed. It is an excellent situation when our technical analysis works like clockwork.
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.