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

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By FX Empire Analyst - Christopher Lewis
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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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