EUR/USD Forecast 14 Nov 12

Good day forex traders.

Welcome to another forecast for the EUR/USD. Recently we noted mainly bearish sentiments for the currency pair in view of the fundamental situation. Economic releases did little if any uplifting of the situation.


Looking at the EUR/USD 4 hourly chart above we note that the 1.27 line held as a support for now. With the fundamental situation pretty much the same for now, there is no reason to exclude the possibility of a retest of the support line.
There were strikes across the European Union today against austerity measures. Such actions will no doubt harm the already fragile economy and sentiments.

Trade safely.

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