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EUR/USD Forecast 17 Sep 12

Sunday, September 16, 2012 22:55
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(Before It's News)

Simultaneous Release at
TheGeekKnows.com  Learn Forex Trading and read exclusive EUR/USD Forecast and AUD/USD Forecast Reviews.

Good day forex traders.

In the previous EUR/USD forecast we noted that the markets were pleased with the recent developments. The currency pair had a technical bullish test on the 1.28 region. The German economy seemed to be escaping the worst of the Euro Zone budget deficit crisis and the ECB bonds purchase program was welcomed as a sign of stabilisation.

EUR/USD Forecast

Technical Analysis

Looking at the EUR/USD chart above we note a continuation of the bullish momentum. 1.28 did turn out to be a resistance as i mentioned. It fell eventually to the strong pressure.

SMA 20 ( RED ) = Bullish

SMA 50 ( BLUE ) = Bullish

Both SMAs are bullish and this indicates the possibility of continued momentum. An important point to note is that the currency pair is now above SMA 200 and if it holds above it, it may suggests a long term bullish momentum. Watch out for 1.32 if bullish momentum continue.

Don’t miss the fundamental analysis,

continue on to TheGeekKnows.com for the fundamental analysis of the EUR/USD Forecast Weekly Review to understand more about the underlying market sentiments.

©2012 FX Instructor Forex Blog – For Traders, By Traders. All Rights Reserved.

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