Where will be Euro next week?

Looking at the daily chart, we can see EUR/USD touched the top side of a down channel which started from December 2009.


We will be watching this level (1.2700). If it can break and go above that level then the next level will be 1.3124 which is also a 38.2% Fibo from high of 1.5137 and low of 1.1881.

We are holding neutral bias at this critical point.

Next week’s important news for Euro will be German ZEW Economic Sentiment: Published on Tuesday at 9:00 GMT. This can move the currency in either direction.

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