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Good day forex traders and readers.
In the previous EUR/USD forecast we noted that the 1.36 line remained our resistance for any bullish momentum. In fact as the previous week came to a close, bullish momentum was facing much drag. The fundamental uncertainty is high this week as the markets await the outcome of October 17.
Looking at the EUR/USD 4 hourly chart above we note that the currency pair remains somewhat tight in it’s trading range. 1.36 remains as our reference point for any further bullish action.
The chart above indicates that we can use the bollinger bands as a reference to a certain extent. Hence forth we are looking at the middle bollinger band as an immediate support. Further support will probably be 1.3500 in the event of any extended bearish push.
continue on to TheGeekKnows.com for the fundamental analysis of the EUR/USD Forecast Review to understand more about the underlying market sentiments.
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