EUR/USD Forecast - 06.02.2012 to 10.02.2012

EUR USD had a ‘sideways’ week upon the uncertainties of Greek debt crisis and talks about US QE3. We will get the results this week and it’s not a good idea to forecast EUR/USD without knowing the results of these two major facts. We will not project this week’s behavior of the pair. Here are our technical levels.

 Our Technical Levels are as follows :

1.3800 – Strong Resistance

1.3700 – Strong Resistance

1.3615 – Strong Resistance

1.3550 – Strong Resistance

1.3450 – Strong Resistance

1.3330 – Weak Resistance                  

1.3280 – Strong Resistance     

1.3212 – Strong Resistance     

1.3145 – Close of last week

1.3100 – Weak Support

1.3060 – Strong Support         

1.3023 – Weak Support

1.2945 – Strong Support         

1.2873 – Strong Support                                 

1.2660 – Strong Support

1.2623 – Strong Support

1.2587 – Strong Support

We will be neutral for the EUR/USD

Greece and Portugal are pulling Euro lower, while the chance of QE3 sinks the Greenback. We will be neutral and see what develops in the coming week.