Forecasting

EUR/USD did not break out in either direction by the time the market ended on Friday, I, personally, hope that next week the move south toward 1.1100 would continue.

EUR/USD rallied and finally broke out above the range. The pair remains bullish for now and I would not be surprised if it reaches and passes 1.1350 too.

EUR/USD bounced off from 1.1345. The correction clearly continues for now. Next target is likely back around 1.1250.

EUR/USD remains undecided still, it's back to testing 1.1330, if it breaks out above that level it may rally toward 1.1400, I think.

EUR/USD will continue developing its sideways range into next week by the looks of it. The pair failed to break out above 1.1375 and is depreciating back toward 1.1300 again.

EUR/USD remained very undecided today too. The pair is still consolidating around 1.1300 and I think that will not end before the fundamentals next week.

Two major events will dominate Euro trading in the coming week: an ECB meeting on Eurozone monetary policy, followed by an EU summit to reach agreement on a recovery fund.

• The coming week could well be a “wait and see” week for the Euro, with little action likely ahead of an ECB announcement Thursday onEurozone monetary policy followed by an EU summit to attempt to reach a consensus on a recovery fund.
• For most of last week the Euro was lacking direction – with EUR/USD and EUR/JPY rising, EUR/GBP falling and EUR/CHF moving broadly sideways.
• Now the major risk is stalemate on the recovery fund, which would likely weaken the Euro against all the other major currencies.

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EUR/USD is quite bullish today but the overall move north needs a proper breakout above 1.1415 to continue developing.

EUR/USD is testing the resistance at 1.1400 currently, a breakout above that and 1.1415 could finally lead to an end of the range.

EUR/USD finally rallied above 1.1415. This breakout is a good signal that the overall move north should continue soon. Next target is probably around 1.1500.