Good day forex traders.
Iphone 5 will be available tomorrow! Woot 🙂 Unfortunately i am not able to get it tomorrow.. are you one of the lucky ones getting yours tomorrow?
In the previous EUR/USD forecast we noted slow movement for the currency pair. The bearish drift had reached the 1.3 line and it held as of then. However nothing is impossible in forex.
Looking at the EUR/USD 4 hourly chart above we note that the EUR/USD has slipped below 1.3. Having said so the candles are dojis which suggests bullish support so far.
We are getting disappointing economic data streaming out of the Euro Zone and hence bearish pressure has returned. Manufacturing has slipped for a number of European countries. To add to the negativity, US unemployment claims increased.
The end of the trading week is approaching and hence there may be unexpected movements due to the closing of positions, etc.