EUR/USD Forecast September 17, 2012, Technical Analysis

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The EUR/USD pair rose during the session on Friday, clearing the 1.30 level as resistance. This area should now form a little bit of support in this marketplace, and as such we would be interested in buying on a pullback to this area if it shows signs of support. We think that with the Federal Reserve easing its monetary policy yet again, this pair probably has the next couple of hundred pips to look forward to as being gains.

However, we feel that there is a serious risk of headline shock out of the European Union still. In the meantime though, we think that the market is certainly biased to the upside. We’ve had a significant move higher, silly pullback would not only be expected, but more than likely welcomed by the buyers.

 

EUR/USD Forecast September 17, 2012, Technical Analysis

EUR/USD Forecast September 17, 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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prakash

he USD/CAD pair formed a hammer on the Friday session as the 0.97 level offered a bit of support. This was somewhat counterintuitive, but more than likely it had to do with traders not willing to hold onto risk through the weekend. After all, there are plenty of issues going on in the Middle East right now that could rock markets on the open.
nical 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.
View all of FX Empire