Forex ForecastNOTE: The material and the Forex forecast on these pages are presented solely for informational or educational purposes. No investment or trading advice or strategy or system of any kind is being offered, recommended or endorsed by the author, Forex-Trading-Insight.com or any of its affiliates, agents or employees. Analysis for week 20, 12th to 16th of May 08A this time it is really difficult to say where the EURUSD will go, but I still say that it will go up for a new test of 1.6000. As I said last week one of the scenarios was that price would hover around at the same level and it did. However, the EURUSD also went down to touch S3 at 1.5277 and the midline of the horizontal Pitchfork. There is simply no clear picture of what is going to happen, just many different and contradicting indications. I closed my short position Thursday for a nice profit and I am now looking for direction. I believe we will have some kind of sign of direction of the EURUSD this week.
For the Economic Releases, stay tuned at my Forex Calendar. The previous Forex Forecast can be found at FOREX trading Blog.
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