[B]Simultaneous Release at
TheGeekKnows.com [URL="http://thegeekknows.com/"]Learn Forex Trading[/URL] and read exclusive [URL="http://thegeekknows.com/"]EUR/USD Forecast[/URL] Reviews.
[/B]
Good day forex traders.
In the previous EUR/USD forcast we noted continued bearish indications from our SMAs. Nonetheless the previous lows in the region might serve as a support. Fundamentally, speculations of a Spain bailout was strong and the US prints a worst than expected US Non-Farm Payroll.
[B]Technical Analysis[/B]
Looking at the EUR/USD chart above, we noted that the region did serve as a support. I LOVE IT WHEN MY CHART WORKS! Sometimes i cannot tolerate myself for shamelessly praising myself. HA!
SMA 20 = Bearish
SMA 50 = Bearish
The currency pair tested 1.26 and eased off pretty far. Should bearish momentum resumes, we will be testing the region of 1.2330 – 1.2450 again.
[B]Don’t miss the fundamental analysis and technical chart,
continue on to TheGeekKnows.com for the fundamental analysis of the [URL="http://thegeekknows.com/2012/06/eurusd-forecast-11-june-12.html"]EUR/USD Forecast[/URL] Weekly Review to understand more about the underlying market sentiments.[/B]
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