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EURUSD forecast – July 16 2013

Yesterday, after the US data the market plunged a bit and then later recovered. After three days of consolidation since last Thursday, the pair is most likely still bullish. Yesterday it only hit a key support at 1.2990 and then rebounded again, but yesterday was pretty unspectacular.

Today we will have the ZEW index from Germany and Core CPI from US. The confidence in the better German data might give support to the Euro. So, it means we are expecting a more choppier day.

Our expectation is a steep bullish trend for today. There is a key support upside level at 1.3130. If it breaks our next TP is 1.3200.

EUR USD 4 hour chart July 16 2013 currency trading forex



Blindfoldedmonkey is a daytrader and money manager who has spent more than 10 years in this business. Risking his own money each day in the market and working for some funds as money manager and adviser. With many years of experience, he developed a system, which called - "Fractal Trend & Contratrend". This system is a complex trading solution for the forex markets. He writes often fx analysis, holds forex seminars and webinars, already teached many hundred traders about how to approach the markets in practice.