Forex Guides

EUR/USD Forecast 11 Aug

Good day forex traders and readers.

Welcome to our weekly forecast of the EUR/USD. Are you making money trading forex? Do remember that forex is never about getting rich overnight.

In the previous EUR/USD forecast we noted that a bearish pressure was pushing the currency pair down. Should 1.34 fail, we might see 1.3350. Prudence was advised as we were observing risk aversion in the markets.


Technical Analysis

Looking at the EUR/USD weekly chart above we note that the currency pair is still on a bearish trend. A number of folks asked me why do I use the weekly currency chart as there is nothing to be seen. Well everyone the weekly is good to observe the medium to long term trend. Forex to me is never about quick wins because losing quick is a possibility too. It is when we understand the currency pair and move along with the flow that we make money 🙂

We observe that 1.3350 was tested. While the EUR/USD is now above 1.34 , pay close attention and monitor. The longer it remains above, the higher the possibility of a bullish return. Otherwise we may dip below 1.34 and target 1.32.

Fundamental Analysis

The risk aversion theme is probably still strong in the market. Equities are affected and gold is holding above $1300. In view of this, we are likely to see continued preference of safe haven assets. With the commencement of air strikes on Iraq, another conflict flashpoint has expanded.

Continue to observe the market indicators on both sides of the Atlantic. We have US retail sales , German ZEW economic sentiments and more for the upcoming week. Proper money management is a must.

To get the most out of TheGeekKnows, join our free email mailing list. Get forex updates, forecasts and warnings! Join on the right side bar.

Invest In Yourself And Get Premium Analysis
Less than 20 cents a day
Major Currency Pairs Analysis
Forex Sentiment Analysis
Understand The Market
10 days money back guarantee

View Subscription Options

Would you like to connect?
Get notifications on new forecasts and articles.

Sign up to our emailing list and get your FREE Stop Losing and Start Winning in Forex Checklist!

Trending Forex Articles

  • EURUSD daily chartEUR/USD Forecast 11 Aug
  • eur usd daily analysisEUR/USD Forecast 11 Aug
  • EUR/USD Forecast 11 Aug
  • EUR/USD Forecast 11 Aug
  • EUR/USD Forecast 11 Aug
  • 3 ways how the economy may affect forex tradingEUR/USD Forecast 11 Aug