EUR/USD Forecast

On the attached chart, you can see that the EUR/CAD pair had a rough week to end the month of March. However, you can also see that I have the 1.50 level drawn just below there on the chart with a horizontal red line, which I believe will serve as a bit of major support for this marketplace.

Check out where the EUR/GBP pair is headed in the upcoming quarter with this Forex forecast here.

The EUR/JPY pair had a positive month for February, after getting beat up severely during the month of January. However, and less you look at monthly charts, you may not recognize that the massive selloff during the month of January was essentially a return to the previous breakout level.

The EUR/USD pair continued to bounce around in the relatively tight range that we have seen for several months during the month of February.

This pair seems caught in a long-term consolidation and enjoys only limited price movement, the current signs are that this is likely to continue during February, but a lot will depend upon how this current week closes.

This cross has been established in a strong long-term uptrend since the summer of 2012, and has been rising strongly in its recent leg to reach a five-year high, but it is beginning to show signs of weakening or at least slowing.

The EUR/USD pair fell during the month of January, but you can see still remains locked in a fairly tight range. Essentially, with the exception of a little bit of a breakdown during the illiquid month of December, this market has been stuck between 1.35 and 1.38 for the last four months.

The EUR USD pair has been trapped in a relatively sizable range for several weeks now, and going into the month of January I do not expect to see a whole lot of change to that pattern.

The EUR/USD pair has been a real pain for a lot of traders over the last couple of years. One look at the monthly chart attached, and you can see that we aren’t really in a consolidation area, (rectangle) but we are in something that look consolidative with a slightly negative attitude. In other words, this is an ugly chart.

The EUR has gained strength for the fifth consecutive week reaching 1.3811, an all time high in the last 6 weeks. The pair ended the week with a slight decline; closing at 1.3736.

The NFP was released on Friday, showing that the US added more jobs than expected in November; rushing the EUR to a 5 week high against the USD. The pair reached a high of 1.3721 and closed at 1.3705.

The EUR/JPY pair has been on fire lately. Because of this, I certainly cannot advocate selling it at all, and as a result I won’t even entertain a short position – no matter how parabolic the market gets.

Be prepared for the upcoming month of December with this forecast of the EUR/USD pair.

Check out the EUR/USD forecast for the upcoming November 2013 month.

The EUR/JPY pair is Chris's favorite pair to trade. Find out why in this forecast for the upcoming month of October here.