The Eur/Usd made a bearish move on Friday on positive news released on the U.S. Economy. This article is purely speculation based on my technical analysis. This point of my opinion only and you have the right to disagree. The first signal to me is the long bearish bar on the daily charts. That bar indicates to me that there was a massive selling and that could be an indication of additional selling. The price broke past all the previous lows of that pair for the last few days.
The pair stop abruptly at the 1.4825 support level and turned upwards and I believe that the bounce could go forward for a little more I wrote about the Eur/Usd Here.
Lets take a look at the daily chart. *Note Click the chart to learn about our charting service
Now the weekly chart signals a down move because the price broke the previous lows on weekly chart. That is an indication that the price could be heading lower. The target for the next support level is the 1.46237 point.
There is going to be significant news announcements that will move this pair for the upcoming week to find out what news is coming up that will impact this pair make sure that you read Forex Crunch Eur/Usd Weekly update.
The GeekKnows has a daily Eur/Usd report and he has a funny way of presenting his ideas.
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