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EUR/USD Forex Forecast Review 7 Feb 12

Good day forex traders.

Welcome to another forex forecast of the EUR/USD!

Yesterday we noted that the SMA 20 was about to cross over the SMA 50. This could be an indication of more bullish momentum. Having said so, we noted risk aversion too as discussions regarding the Greek debt crisis were turning out to be rather lacking of a concrete solution.

Technical Analysis

The SMA 20 has crossed over the SMA 50. Yeah ! Bullish momentum is here and i am going to be a millionaire soon by longing the EUR/USD !!   


I always mention that in forex, we need to understand the market well. I even think it is a kind of art 🙂 While the crossover of the SMA 20 suggests more bullish possibility as we can see above, the SMA 50 is still flat. Furthermore the 1.32 region is probably a tough resistance. Pay close attention to see if the resistance would hold. Remember nothing in forex is 100%. Proper money management is a must! 

Ok i probably nagged too much again.

Fundamental Analysis

It was reported that the Greek officials are adding the finishing touches to the document that will list the budget and structural measures required to enable international funding. This probably gave some relief to the markets. Having said so, the main highlight remains undecided. Will Greece comes to terms to it’s people and creditors? Will there be another bailout or the default of a country?

Many questions remain unanswered.

Trade Safely.

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