FX.co ★ EUR/USD Weekly Forecast For August 15th - 19th / 2011

DESCRIPTION :

If we look at Weekly Charts we can see the EUR/USD entered the Sideways situation. The mark 1.4000 has provided a strong support. For the next week this level is likely to be tested again.
If this level is still strong, this currency has a chance to go up again, especially if the 1.4373 can be broken out, if this happens the mark 1.4400 will be the first target and the 1.4430 (previous weekly high) will be the second target. On the other hand, if the mark 1.4000 can be broken down then the 1.3950 will be the first target and the 1.3925 will be the second target.