28.03.201111:56 Forex Analysis & Reviews: EUR/USD Weekly Forecast 28th - April 1st / 2011

Long-term review

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WEEKLY FORECAST :

Last week the EUR/USD failed to test the 1.4250 level, it looks like it provided a strong Resistance for this pair last week; this level
caused the pair to go down and close below the last week's opening price. However, if we look at the 10 periode Simple Moving Avarage, the pair
is still trading above that Moving Avarage and the slope is still going up; it means the downside movement is only a retracement. For next week we predict
the pair to test the Fibonacci Support 50% at the 1.4050 level, if this level is broken the mark 1.4000 will be the next target for this pair.
However, if the pair tests 1.4050 afterwards, this level can provide a strong support and the pair goes up again, the mark 1.4100 will be the target for the pair and 1.4150 will be the second target for the EUR/USD for next week.

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