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EUR/USD Forex Forecast Review 14 Feb 12

Good day forex traders.

Happy Valentine’s Day ! Hope your trades are treating you well too πŸ™‚

In the previous EUR/USD forex forecast we noted that the currency pair has fallen back below 1.32. This is a strong support and resistance region and hence one should pay close attention to this region.

Technical Analysis

The 1.32 region is still holding and the EUR/USD is below this resistance at the moment. The SMA 20 is providing some support now as mentioned in the previous review. I LOVE IT WHEN MY CHART WORKS! Further bearish momentum may see an extended target of 1.3.

Fundamental Analysis

There is probably much apprehension in the markets. As the euro finance ministers are due to meet Feb 15, investors and traders are worried of any averse development. The Greek bailout may still derail and cause possible financial turmoil globally. Greece faces a massive bond redemption in March. Do plan your trades well and have proper money management tomorrow as the meetings will be ongoing.

Trade Safely.

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