The EUR/USD pushes for 1.2 as the US economic data failed to impress. A test of a long-term trend line approaches.
EUR/USD Forecast
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The EUR/USD consolidates as it tries to find a momentum out of this significant region. Important economic data is up next.
The lower bollinger band capped downside pressure and sent the EUR/USD into a correction. There is no indication of an end to bearish moves.
The EUR/USD achieved the bullish targets and is now testing the 1.19 region. The upcoming US Fed Chair speech may influence the momentum.
Despite falling EUR/USD prices, retail investors are stacked on long positions. Will the currency pair react?
The EUR/USD ends the week below 1.18, potentially ushering a new phase of bearish momentum. A few indications need to be monitored for clues.