Forex Guides

EUR/USD Forex Forecast Review 5 Jan 11

Good day forex traders.

In the previous EUR/USD forex forecast review, we noted that the SMA 20 acted as an immediate resistance. 1.28 might be the next target. Fundamentally the new sale of shares by Italian Bank Unicredit was probably causing risk aversion as investors speculated that European banks might need to raise capital.

Looking at the EUR/USD chart above, we note that the currency pair did reach 1.28. I LOVE IT WHEN MY CHART WORKS! The bearish momentum is strong and hence close monitoring should be applied to the 1.28 support.

Fundamentally the German Retail Sales turned out to be worst than expected and investors fear that the euro zone economy is further deteriorating. Furthermore in comparison, the US ADP Non-Farm Employment Change turned out to be much better then expected and sentiments towards the US economy probably became favorable.

Among the economic data due tomorrow, comes the Euro Zone Retail Sales and the US Non-Farm Payroll. Both are crucial indicators of their respective economies and hence do monitor closely.

Trade Safely.

Related Forex Articles from the Koala Forex Training College.

Invest In Yourself And Get Premium Analysis
Less than 20 cents a day
Major Currency Pairs Analysis
Forex Sentiment Analysis
Understand The Market
10 days money back guarantee

View Subscription Options

Would you like to connect?
Get notifications on new forecasts and articles.

Sign up to our emailing list and get your FREE Stop Losing and Start Winning in Forex Checklist!

Trending Forex Articles

  • EURUSD Weekly ForecastEUR/USD Forex Forecast Review 5 Jan 11
  • EURUSD WeeklyEUR/USD Forex Forecast Review 5 Jan 11
  • EUR/USD Forex Forecast Review 5 Jan 11
  • eur usd daily analysisEUR/USD Forex Forecast Review 5 Jan 11
  • EUR/USD Forex Forecast Review 5 Jan 11
  • EURUSD daily chartEUR/USD Forex Forecast Review 5 Jan 11