The EUR/USD breached the strong support of 1.2 but gave it up. Weak US economic releases likely affected sentiment towards the US dollar.
EUR/USD Forecast
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The current retail sentiment climate of the EUR/USD is flat. This is in line with the price action. We explore the possibilities ahead.
The EUR/USD tested the strong support of 1.2 and failed. The middle bollinger band may be adding to the support.
The EUR/USD loses its bullish steam as a result of poor German economic data. It dipped towards 1.2. Important economic events due next week.
The EUR/USD struggles under 1.21 as mixed results plagued sentiment. An important economic event is up next.
The EUR/USD continued its bullish focus and breached 1.2. Economic data from the euro area were mostly better than expected.