Hi all forex traders.

It is the last day of the trading week and I hope you are fine with green pips so far.

In the previous review I continued to emphasise on the need for caution as the markets find a direction.

Looking at the EUR/USD chart above we note that the currency pair remains in a tight range with occasional tests on the outer bollinger bands. I remain pleased with the bollinger bands.

The US Federal Reserve commented that further measures may be taken at extreme situations. This comes across as dovish given that it is opposite from the stance of possible interest rate hikes. We will see some drag on sentiments towards the US dollar eventually.

Trade safely.

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EUR/USD Forecast 1 July 16

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