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Masoud EUR/USD Forex Forecast Review 11 Apr 12

Hello koala king and folks.

Good day to you.

Bank of France announced that economic growth in first quarter 2012 was zero. But the economic landscape of this country is stable. Economic growth in the euro zone’s second largest economy in the final quarter of last year was 0.2 percent. Index of business activity has been reported as unchanged in January.

Central Bank of Spain announced that Spanish banks may need more capital. Spanish banks in recent years are affected by the severely depressed real estate sector, consequence of the crisis. The Spanish Prime Minister assured investors of this country that the budget deficit crisis can be controlled and Spain will not require the contribution of international lenders.

China is likely to create a balance between external demand and stagnant domestic consumption. The use of monetary and fiscal stimuli will be needed. By improving America’s economy and stabilizing the debt crisis in Europe, China’s exports in the coming months will increase.

According to the official numbers from America, the trend of unemployment rate in this country was not to the extent predicted. In March, only 120 thousand job opportunities offered by employers were clocked which was lower than predicted. According to the Bureau of Labor Statistics, the unemployment rate fell from 8.3 to 8.2 percent in March of this year.


From a technical perspective:

As you can see in the above picture, EUR/USD on time frame H1 is within a bullish channel. If the currency pair succeeds to break the 1.3370 resistance and closes above this level, the short term trend may change from bearish to bullish. However if it fails to break the 1.3370 resistance again, it may return to the channel.

Have a nice time.

Masoud.

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