EURUSD Weekly Forex Trading Forecast
It shows that EURUSD is in a strong bearish bias. After a long time, around 6 months range the price is now trading below 1.0800. According to our previous analysis, the target was 1.0800 and the target was fulfilled and price also breaks this support at 1.0810 and continues falling. Now it is near on another support level at 1.0520-1.0460. We need to observe how the price reacts around this level. A successful break on this level will initiate the target of 1.0200 which is a support that was created in July 2002. If the price can’t break then we can have some bullish retracement.
There are some important fundamental in this week including ECB press conference that will also indicate EURO strength, and some of the fundamental on USD including NFP that will also indicate further USD movement.