FX.co ★ EUR/USD For Weekly June 13th - 17th /2011

DESCRIPTION :

Last week The EUR/USD came back again to the ranging zone (Yellow Box), this situation happened because this pair failled to reach and close at the 1.4750 level and this situation indicates the EUR/USD last week lost the Bullish momentum, and this pair started to remain and test the 1.4250 again. For the next week, this pair will test the 1.4250 level and if this level can be broken, it will bring the EUR/USD to test again 1.4000. On the other hand, if this pair can break out and close above the 1.4490 it will be a sign for this pair to continue again the bullish situation, and the 1.4695 (the last week high) will be the first target and the 1.4750 will be the second target.