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Good day forex traders and readers.
In the previous EUR/USD forecast we noted that the currency pair was receiving some bearish pressure. The strong resistance of 1.36 laid ahead. The US government shut down and upcoming debt ceiling crisis continued to be a drag on the sentiments.
Looking at the EUR/USD daily chart above we note that the currency pair was over all bullish and had breached the 1.36 resistance monetarily. It had since fell back towards the mid 1.35 as bearish pressure emerges towards the last day of the week.
With the lack of noticeable risk aversion affect for now, it is possible that the medium bullish trend will continue. Can you spot the bullish trend line? Do continue to monitor the 1.36 resistance. Should risk aversion finally strikes, the immediate support is probably 1.3480.
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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