Forex Signals – Critical Week for EURUSD

A lot has been talked about Euro lately and it is a good time to analyze EURUSD both technically and fundamentally.

Lets start with Technical analysis first and then later we will look at potential Forex signals.

EURUSD Technical Analysis

Last two weeks has been a roller coaster ride for Euro, as a result Weekly candles formed Dojis. Price is now resting just above Support level at 1.4080


A break below this 1.4080 could send EURUSD all the way to 1.3700 where weekly Trendline comes into play. On the other hand if price bounce up then it could reach 1.4500 where we have upper weekly Trendline.

EURUSD Fundamental Analysis

All eyes are now set on Greek Parliament which will vote on austerity measures on Wednesday. It is critical for Greece to pass the proposed bills which contains harsh spending budget cuts and tax hikes, failure to do so could stop Greece from receiving the much needed bailout installment.

There is also a talk about a second $170 Billion bailout package which will end in 2014.

EURUSD Forex Signal

Market is likely to remain jittery until the vote and its better to remain on sidelines unless we see a strong momentum in either direction.

Aggressive traders can wait for daily chart close below 1.4080 then look for short trades until 1.3700.

Don’t agree with this analysis? Leave a comment below.

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