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Good day forex traders.

In the previous weekly forex forecast review of the EUR/USD we noted that the SMAs were not indicative of any sustained momentum. Fundamentally, economists and experts continued to warn of a global slowdown. The euro zone is not out of the woods too in regards to the budget deficit crisis.

Technical Analysis

Looking at the EUR/USD chart above, the week indeed gave no obvious momentum. I LOVE IT WHEN MY SMAs work :)

SMA 20 = bearish

SMA 50 = flat

The SMA 20 has crossed over to the downside. While this may indicate bearish pressure, it is important to observe if the SMA 50 which is an indicator of medium term possibilities turns bearish too. Uncertainty is high and the currency pair can very well go either ways.

Complete the review!

Continue on to for the fundamental analysis of the EUR/USD Forex Forecast Weekly Review to understand more about the underlying market sentiments

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