Forex Guides

EUR/USD Forecast 29 June 15

Good day everyone.

Thanks for reading our weekly EUR/USD forecast. I hope you had a great time trading.

In the previous EUR/USD forecast we noted that the currency pair tested the 1.14 resistance again. It did not manage to breach the resistance but it closed the week higher than the previous week. The EUR/USD was showing bullish indications but remained capped by 1.14. Should any bearish correction happen, the middle bollinger band might function as an immediate support at 1.12. An extended bearish target would likely be 1.1.


Technical Analysis

Looking at the EUR/USD weekly chart above we note that the currency pair was bearish for the week. It failed to breach the strong resistance of 1.14.

The immediate support of 1.12 did not hold and the currency pair went on to approach the 1.11 extended bearish target.

Should the 1.11 support fail, we may be looking at an extended bearish target of 1.08. Bullish recovery will probably need to test the immediate support turned resistance of 1.12 followed by 1.14.

Fundamental Analysis

As the Greek crisis nears the deadline of 30 June, the apprehension in the markets is likely to be greater. Just earlier it was reported that the euro zone ministers have rejected Greece’s request to extend the deadline. The speculation now is of a possible exit from the euro zone. ( Grexit ).

Over in the U.S , the US Non-Farm Payroll is due in the upcoming week and this will be crucial as it is likely to shed more light on the possible interest rate hike by the US Federal Reserve.

The uncertainty level is high and hence I will not be taking a trade for now until we have more indications with regards to Greece.

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 Weekly ForecastEUR/USD Forecast 29 June 15
  • EURUSD WeeklyEUR/USD Forecast 29 June 15
  • EURUSD daily chartEUR/USD Forecast 29 June 15
  • eur usd daily analysisEUR/USD Forecast 29 June 15
  • EUR/USD Forecast 29 June 15
  • 3 ways how the economy may affect forex tradingEUR/USD Forecast 29 June 15