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EUR/USD Forecast 7 July 16

Good day forex traders.

As we pass midweek of the trading week, it is good to be mindful of our exit plans. Unless it is a long term position, I usually end by the end of the week due to the various risks such as forex gaps.

Looking at the 4 hourly chart above, we note that .. Our bollinger bands are working fine! It is great when we see technical analysis playing out well. 🙂

In view of these, our immediate support and resistance region remains pegged to the bollinger bands.

From a fundamental point of view, a report came out indicating that the trade deficit of US is widening. This may be due to the strengthening US dollar. A number of analysts are speculating that measures may be taken to weaken the value of the USD.

Trade safely.

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