EUR/USD Forecast for the week of August 13, 2012, Technical Analysis

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The EUR/USD pair continued to show weakness during the previous week, and there isn’t much on this chart that has me thinking that the momentum is about to turn for the bulls for any real length of time. Because of this, I look at this market from a “Where can I sell it” perspective. I believe that the 1.25 level should continue to be a bit of a ceiling in this pair, and that we are heading to the 1.20 level before long. With this in mind, I am selling rallies.

EUR/USD Forecast for the week of August 13, 2012, Technical Analysis

EUR/USD Forecast for the week of August 13, 2012, Technical Analysis

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About: FX Empire Analyst - Christopher Lewis

Christopher is a part of the FXEmpire.com analysis team. He writes Forex and Commodities technical analyses on daily and weekly basis. Christopher writes his analyses in a professional and yet simple to understand manner. His analyses are available in both text and videos.

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Daniel

I am also betting on selling the pair throughout the week. Any announcements are past healing the currency this week.