FX.co ★ EUR/USD Weekly Forecast 21st - 25th/2011

WEEKLY FORECAST :

Last week, according to our prediction, the EUR/USD broke out its another previous high at 1.4035 (March 06/2011 weekly bar) and started to reach the next resistance at the 1.4082 level. For the whole next week the pair will still be running in the Bullish situation indicated by the upside slope of the 10 week periode Moving avarage; the high-low range of the previous week bar is more than the high-low range of the week before, that means the Bullish momentum is in advance and the stochastic indicator shows it as well. Thus, we predict that the pair will be trying to test the next resistance at the 1.4281 level for this whole week, if this level cannot be broken it will hold the Bullish situation for this whole week.