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In the previous EUR/USD forecast we noted that the currency pair was bearish for the week. It had attempted to stretch below the support of 1.12 but had since settled around it as expected. The middle bollinger band had once again proved to be of use to our indications of price action. A clear breach of the 1.12 support / middle bollinger was needed before we could expect an attempt of the bearish target at 1.1. A bullish recovery would likely target 1.14
Technical Analysis
Looking at the EUR/USD weekly chart above we note that the currency pair was a doji for the week. It remained around the the middle bollinger band as expected.