By Russell Glaser – The recent damage that has been done to the euro by hand of the dollar may show where the EUR/USD is headed in the long term. The weekly chart below displays the next price targets.
1. Yesterday the pair broke the long term support level from the previous bullish trend at 1.2885. Today the price of the pair moved lower to the short term support at 1.2750.
2. The next short term target for the pair can be found at 1.2600.
3. In the long term, the major support is the bottom of the pair’s previous bearish trend at 1.2450.
Forex Market Analysis provided by Forex Yard.
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