In the previous EUR/USD forecast we noted that the currency pair was bearish for the week. It remained capped by the lower bollinger band as expected. The bollinger bands were widening and this suggested that the momentum was gaining. Bearish targets remained at 1.06 / 1.05 and 1.045.
Fundamental developments also indicated possible US dollar strength.
Looking at the EUR/USD weekly chart above we note that the currency pair continued to be bearish for the week as expected. It achieved the bearish target of 1.06.
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