EUR/USD Forecast September 13, 2012, Technical Analysis
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The EUR/USD pair rose again during the Wednesday session as the world awaits the Federal Reserve decision. This decision comes out later today, and it could provide more fuel for this rally. The 1.28 handle now looks supportive, and as such we think that a pullback will more than likely find buyers at that level.
However, there is the possibility the Federal Reserve disappoints. If it does, despair could fall apart rather quickly and headed towards the 1.26 level. Of course, it is impossible to predict what they’re going to do, and as such we are on the sidelines in this particular pair until we see the daily candle close today. If we managed to break higher, we are buying. If we break lower and below the 1.28 level, we would consider selling.
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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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