Forex Videos

MBCFX brings you the latest technical analysis on the EUR/USD pair for the June 12th in this video.
EUR/USD — The EUR/USD extended losses for the 4th consecutive day inaddition to the increase of fears among the investors in the global markets after the world bank cut its forecast for the global economic growth from 3.2% to 2.8%. Today the investors are waiting for the release of important economic data from US economy especially the Retail Sales data which is expected to record an increase of 0.6% during the month of May higher than the previous reading for the month of April of 0.1%. Also the US Core Retail Sales data which is expected to rise by 0.4% from the previous reading of 0.0%. In addition to the US Jobless Claims data which is expected to retreat to 310K compared to 312K during the previous week. The EUR/USD was little changed during yesterday's trading session and as we can see on the daily chart the prices have succeeded to breakthrough the ascending wedge to the downside which confirms the strong bearish trend of the EUR/USD and it is expected to decline towards the main targets stated in our daily newsletters.