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Good day forex traders.
In the previous EUR/USD forex forecast weekly review we noted that the currency pair had broken up above the 1.32 region. Both SMAs were pretty much bullish. Concerns regarding Greece were easing and confidence level towards Germany remained high. Nonetheless i mentioned that this bullish drive seemed rather dedicate and hence the risk of a breakdown remained high.
Looking at the EUR/USD chart above, we note that a bullish breakdown did occur. I LOVE IT WHEN MY OPINIONS WORK!
SMA 20 = Flat
SMA 50 = Flat
With both SMAs flat now, we are in the uncertainty region. The currency pair can go either up and down and no one can be 100% sure. This is the beauty of forex If someone says that his or her analysis is 100% accurate, look out for the crystal ball of forex!
It is important to note that the 1.32 is a historically strong support and resistance region and a trend line from the depths of 1.26 is in the area too.
Complete the review!
Continue on to TheGeekKnows.com for the fundamental analysis of the EUR/USD Forex Forecast Weekly Review to understand more about the underlying market sentiments
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