Tuesday, June 14, 2011

Forex forecast about the EUR/USD?

What do you think about the eur/usd exchange rate in the short term?

Currently the rate is: 1.3532.

Technically, we see a constant uptrend since yesterday...the last our even was formed the so called "tree white soldiers" which is a potential signal for an uptrend. However I am not big supporter of the "technical analysis" since it shows only the current position of the market, but the price is driven by economic events not by charts.
So, talking about economics, here's the situation

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