FX.co ★ EUR/USD Weekly Forecast For August 22nd - 26th / 2011

SHORT DESCRIPTION :

This currency is now in the Sideways and has a tendency to enter the choppy situation, all these conditions already indicate that the RSI (14) is now between the levels 40 and 60, and the 10-Day Periods Moving Averages are already flat and between the bar charts body. Please pay attention to this currency when it consolidates in the triangle pattern because the longer the EUR/USD is in a triangle pattern, the greater the explosion will be when the EUR/USD breakout from this triangle pattern occurs. For the next week please pay attention to the 1.4298 level, if it can be broken, the EUR/USD may test the mark 1.4000 again, on the other hand, if this currency is broken and closes above the mark 1,4500 it will make this currency continue the Bullish situation and will test the 1.4750 as they are the next target.