EUR/USD Forecast 18 July 12


 

Good day forex traders.

 

How are you? I hope you are making money from forex. Bagfuls of pips are welcome at all times!

In the previous ERU/USD forecast we noted that the 1.22 region needs to be broken before any bearish action. I want to provide a quick update as to the current situation fo the EUR/USD.

 

EUR/USD

Solution : Protrader

 

As seen from the EUR/USD hourly chart above, the currency pair is trading in a narrow range of around 100 pips.

While the Euro Zone budget deficit crisis remains a concern, recent comments from Bernanke of the US Federal Reserve kept sentiments from sinking for now. A range of easing options were mentioned and investors speculate that this may be a sign of upcoming easing.

Apprehension is also probably keeping the trading tight as investors await the release of documents usually used as part of the decision making process of the US Federal Reserve with regards to interest rates later in the day.

Trade Safely.

 

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