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Good day forex traders and koalas.
In the previous EUR/USD forecast we noted that the EUR/USD was bearish and the immediate support might be the previous consolidation region of 1.3320. There were talks recently of the stronger value of the EUR/USD hurting exports. Such dovish comments might affect sentiments.
Looking at the EUR/USD chart above we noted that the currency pair attempted to recover right up to the mid week. After which the EUR/USD was overwhelmed by bearish pressure and tested the 1.3320 mentioned last week. I love it when my chart works Now if the bearish pressure continues, a failure of 1.3320 may bring us to 1.3250. A bullish correction will likely see some resistance at 1.3400 first. We are also on the support region of a longer term bullish trend line and hence it will be crucial to monitor the price action here.
continue on to TheGeekKnows.com for the fundamental analysis of the EUR/USD Forecast Weekly Review to understand more about the underlying market sentiments.
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