Good day forex traders.
Welcome to another EUR/USD forecast. I hope you are having a good start to the new trading week. Let us all target to end this week green with profit from forex!
Looking at the chart above, we noted a bearish forex gap. This suggests that the curent sentiments are negative. With the EUR/USD breeching the 1.21 region, we may see the extended target if 1.2 in the near future.
Current sentiments are worsening due to various factors. The outlook of Germany and Netherlands were rated negative by Moody’s. Furthermore the Euro Zone budget deficit crisis is taking an ugly turn. Many regions of Spain are requesting for aid and this fuels a speculation of an official bailout of the country. Bond interests have hit the 7% region which many say is an unsustainable rate.
Equities worldwide are mostly red.
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