EUR/USD forecast for the week of October 1, 2012, Technical Analysis

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EUR/USD fell during this previous week as the concerns out of Spain and Greece continue to plague the markets. However, we do see a significant amount of support down at the 1.2750 area that could offer a bit of a bounce going forward. We think that overall the Euro is supported going forward now, and as a result we are looking for that buy signal.

As for selling is concerned, we do think that eventually the Euro falls significantly. However, this will be in the near-term and we think that selling at this point in time is going to be a bit dangerous for the longer-term trader.

 

EUR/USD forecast for the week of October 1, 2012, Technical Analysis

EUR/USD forecast for the week of October 1, 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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