EUR/USD Forecast September 26, 2012, Technical Analysis

By FX Empire Analyst - Christopher Lewis
Font Size
Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

The EUR/USD pair fell during the session on Tuesday in order to test the 1.29 handle for support the second time in two days. This market still looks like it's a bit overbought, and a pullback to the 1.2750 level would be a natural place to see buyers stepped back into the market. Obviously, if that level gives way we could see prices as low as 1.25 in relatively short order as it is the next massive support area.

We still believe that overall, there are plenty of problems in Europe to be found and that the market has simply been ignoring them. There is more talk and chatter of the problems in Greece and Spain both now, and as such we think the Euro will continue to selloff in the near-term. As for buying, we simply won't do it as we see it taunt of noise between 1.30 and 1.33 or so.


EUR/USD Forecast September 26, 2012, Technical Analysis

EUR/USD Forecast September 26, 2012, Technical Analysis

Want to read more articles like this one?

Get the latest fundamental analysis, technical analyses and the most up-to-date news catered to your interests, everyday.

* Please enter a valid email

Activation link was sent

An activation link has been sent to your E-mail.
You will start getting emails only after activating your account.

Find a Broker
Continue to FX Empire Network