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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.

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Technical Analysis

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.

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