FX.co ★ EUR/USD Daily Forecast For April 13 / 2011

DAILY FORECAST :

Today this pair has a chance to trade in a sideways situation, because yesterday it closed in a range between the April 8th / 2011 high and low bar. It seems the EUR/USD will be trading between 1.4437 and the yesterday's high at 1.4518, if the yesterday's high can be broken out, this pair will test the next Resistance at 1.4550; however, because the Stochastic Studies is in "overbought" area, there's a chance the pair will get some correction or retracement, if the 1.4434 can be broken, it will have a chance to go down to 1.4422 as the first target and the 1.4378 as the second target.