I am updating the EURUSD forecast for a long term perspective. The currency pair is consolidated between a particular range since last few weeks. The next move will decide the further trend of the pair. The pair is consolidated in the range of 1.2528 and 1.2241 as my trend lines are suggesting on the weekly chart.
A move above 1.2528 and weekly close above this level can lead currency to sour up to levels like 1.2736 and 1.3000 and if the price goes down and close below 1.2243 can lead the pair to go down further and can lead the price to the levels of 1.2000 and 1.1600
The above view on the currency is based on the weekly technical analysis. Please go through the charts below.......
Please provide your views and suggestion.