EUR/USD Weekly Forecast 3 July 16

Good day forex traders.

How was your forex trading week? I hope you are green with pips.

This week gave us the aftermath of the Brexit and the EUR/USD was mainly limited in range. Apprehension continued to hold the markets hostage.

Looking at the weekly EUR/USD chart above, we noted a bullish recovery for the currency pair. I continue to be pleased with the performance of our bollinger bands. The EUR/USD continues to be significantly reactive to the bands.

It is recommended that we observe the shorter frames in the upcoming week. As the apprehension continues to abate, expectations of the EUR/USD may change.

From a fundamental point of view, the actual details of a British exit from the European Union will likely be on the top of agendas. We will need to continue monitoring closely.

I mentioned in our earlier review that the US Federal Reserve made dovish comments with regards to the current outlook. The mention of measures in extreme situations gave much reasons for negative speculations. This may affect the sentiment towards the US dollar.

Trade safely.

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