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EUR/USD Forex Forecast Review 26 Mar 12



Good day forex traders.

First day of the new trading week and i hope you are trading profitably in forex.

We noted that the EUR/USD is somewhat in a stage of uncertainty and hence i wanted to provide some quick updates on it.



Technical Analysis

We note that the SMA 20 ( red ) has turned flat. With both SMAs flat, the currency pair can indeed go either ways. Nonetheless if the current bullish momentum continues, the first target would be 1.34. Do note though that 1.3360 is an immediate resistance in my charts of a lower time frame.


Fundamental Analysis

Equities worldwide are mainly green and this is probably due to the comment by the chairman of the US Federal Reserve. Bernanke mentioned that while the US unemployment rate’s decline to 8.3 percent is positive, the economy still requires assistance. Investors and traders probably speculated the possibility of economic stimulus and hence risk taking activities increased. This probably led to a shift from traditional safe asserts like the US dollar towards higher yielding currencies such as the euro.

Trade safely.

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