Simultaneous Release at www.thegeekknows.com
The EUR/USD ended this week lower.
After the fantastic bullish rally of the previous two weeks, the currency pair slows down for a rest.
Looking at the chart, the currency pair did not hit the previous high of 1.4866.
I mentioned previously that the EUR/USD may range and indeed it falls short of 1.4600.
The S&P 500 fell off a high too and appears to be ranging.
The recent drop in existing home sales definitely did not go down well with the “global economy recovers” picture.
Gold alike has fallen off a high and is lingering now at an important level.
Any further drop in value may put bearish pressure for the EUR/USD.
Considering that the major clues we pay attention to may be entering a ranging phrase, the EUR/USD may exhibit similar patterns.
It has been rejected at the 1.48 and 1.46 region and hence we maybe ranging around 1.46 to 1.48.
Important releases due next week, including the non farm payroll.
Bullish momentum may push it for an attempt to test 1.4866.
If bearish momentum overcomes 1.46, we may open up to the 1.44 region.
Extreme data or news may tip the balance towards either side and hence trade safe.
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