FX.co ★ EUR/USD Weekly Forecast 7th - 11st/2011

WEEKLY OUTLOOK :

The EUR/USD is still in a Bullish situation, this situation is indicated by 3 important factor : first, the pair has reached a new high and has not broken out below the recent corridor; second, the slope of the 10 periode Simple Moving Avarge is up and the candlestick is still above the Moving Avarage; third, the recent peak was broken out by the pair in this weekly charts (1.3861), and now the pair wants to test the next Resistance at the 1.4057. However if this currency can break out below the 1.3877 level, this situation will hold the Bullish movement for the EUR/USD for this week.