EUR/USD Forecast October 2, 2012, Technical Analysis

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The EUR/USD pair rose during the Monday session as the Euro got a bit of a boost against most currencies. The 1.2750 level looks like its offering support at this point, and it does appear that we will head towards the 1.30 handle. However, we do have nonfarm payroll numbers coming out this Friday, and this of course will be highly influential in this currency pair.

As long as the Federal Reserve continues to print money, there is a real chance of this pair gets a bit. Even with the problems in Europe, the fact is that the European Central Bank continues offer higher interest rates than the ultra-low rate situation we have in the United States. With this in mind, the bullish side should be favor in the foreseeable future.

 

EUR/USD Forecast October 2, 2012, Technical Analysis

EUR/USD Forecast October 2, 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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