Razvan

EURUSD - Short Term Forecast

FX:EURUSD   Euro / U.S. Dollar
349 0 8
After a bumpy week the Euro             managed to gain in front of the US dollar             . The Non-Farm Payrolls dissapointed the markets with a 74K reading and send the EURUSD             to 1.3675 resistance.
On the 60 min. chart we can see that the price ha moved lst week between 1.3675 and 1.4560. Now there is a small Pennant right under the Key Resistance. If the price will break up then I expect a rally to 1.3730. On the other hand a drop bellow (or a flase breakout followed by a drop) the 1.3653 local support could send the price lowe to retest 1.3610. You can also see my full EURUSD             analysis and forecasts on http://www.investazor.com.
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