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In the previous EUR/USD forecast we noted that the currency pair continued to be bearish for the week as expected. It achieved the bearish target of 1.06.

The price action was now just above the lower bollinger band. We would need to observe if the resistance turned into a support region. Any bullish recovery might aim for 1.08.

Due to the fundamental uncertainty, it was advised that staying out of the market may be a prudent decision at times.


Technical Analysis

Looking at the EUR/USD weekly chart above we note that the currency pair was bullish for the week. The lower bollinger band did hold as a support.

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

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