Now I am going to be very brief because I really do not want you to think that is a service I will provide.
I think now that we really again we do need to see the daily candle of Monday in order to see what the market will be for the next week.
As for monday there is 50/50 chance that the market will go to 1.33 or to 1.34.
As the market was correcting last week it is hard to predict where the correction will end.I quite agree with the weekly analysis of forexempire that on EURUSD we are in only buy market.
The recent extreme and directional market movements are closely related with fundamental statements and data. One of the main reasons that we fell last week was related with some precise statements by Mario Draghi after the ECB conference 07.02.2012. He warned that the high value of the euro was a risk to growth in the Eurozone.
However as you can remember the euro began its recent sharp rally following positive remarks by ECB head Mario Draghi about the Eurozone economy.
How can you see this. A possible answer is there is some kind of macroeconomic agenda about how fast the Euro should rise and any sharper upside movement is seen as a threat.
For more information go to beathespread.com
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