WEEKLY FORECAST :
With the 10 Weeks Periode Simple Moving Avarage slope going up and week closing bar chart heading up and making an Outside bar / railroad (red:engulfing) pattern, all this situation indicates that upside momentum for the pair is strong enough. It seems that next week the EUR/USD will test the next Resistance at the 1.4281 level. If this level can be broken by the pair, it is expected to go up to the 1.4363 level. On the other hand, if the EUR/USD goes back to the downside and breaks out below 1.4185, the pair is to be back to the 1.4185 level that will hold the Bullish momentum of this pair for the next week. Please pay attention to the next Thursday (April; 7th /2011), because there is a chance the ECB hikes the intrest rate.
Performed by Arief Makmur, Analytical expert
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http://instaforex.com/forex_analysis/26033/?x=OUE
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