Good day forex traders.

In the previous EUR/USD forex forecast review we noted that the SMA 50 remained as an immediate resistance. The failure to reach an agreement by the stakeholders of the Greece debts probably caused risk aversion.

Technical Analysis

The EUR/USD had broken through the SMA 50 and tested the target of 1.32. Should the currency pair close above the SMA 50, it may indicate more bullish pressure to follow.

Fundamental Analysis

Speculations are running wild that Ben Bernanke the chairman of the US Federal Reserve is laying the groundwork for a third round of quantitative easing. Policy makers mentioned that the interest rate would stay low until at least late 2014. Economic expansion projections were lowered too.

Equities are mostly green in the US and Europe as positive momentum picks up. Risk taking sentiments are increasing.

Trade Safely

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EUR/USD Forex Forecast Review 26 Jan 12

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