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EUR/USD Forecast 28 June 12

 

Good day forex traders.

Almost at the end of the week and i hope everyone is holding strong!

In the previous EUR/USD forecast we noted that an immediate support would be the 1.2450 region. While China is determined to stabilize it’s economy, the Euro Zone continues to spiral down the path of deficit.

 

EUR/USD

Solution : ProRealTime

 

I wanted to provide a quick update. As you can see above with the EUR/USD hourly chart, after 1.2450 the currency pair dipped towards 1.24. If current conditions remain, we may see 1.24 soon. Do take note of the  green trend line though. It is another immediate support.

Germany’s unemployment rose more than expected and this affected sentiments negatively. Initial market reactions to the European Union summit seems to be risk aversion. Do continue to monitor developments.

Trade safely.

 

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