WEEKLY FORECAST :
Last week the bar of this pair made a Bearish Engulfing formation (red: reversal pattern) and the distance between the opened and the closed is far enough. It means the Bearish momentum is too strong, this situation happened because too many market participants were dissapointed with the ECB policy about the intrest rates and the Greece debt is not going well especially the 9red:Greece) allways gives wrong information about them to the ECB and another European Organization . As a result almost two days this pair had a Bearish pressure from the market participants. And for the next whole weeks, it seems the EUR/USd will test their two critical levels at the 1.4281 and the 1.4243; especially if the 1.4243 can be broken by this pair it will lead this pair to going down to the April Low 17th / 2011 at the 1.4152. On the other hand if the EUR/USD can reverse up until it breaks above the 1.4560 it will hold the Bearish pressure for this whole weekhttp://instaforex.com/forex_analysis/28187/?x=OUE
No comments:
Post a Comment