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Good day forex traders and readers.
In the previous review of the EUR/USD we note that the currency pair was bullish and 1.38 may be an extended target. With the government shutdown over and the solution of the US debt ceiling crisis found, the markets were generally relieved.
Looking at the EUR/USD 4 hourly chart above we note that the currency pair has achieved the 1.38 extended bullish target. I love it when our charts work!
Do be cautious for now as 1.38 is often a strong support and resistance region. A breach may open up 1.4 which is predicted by a number of currency analysts. On the other hand, any bearish correction may see a test of the immediate support of 1.3660.
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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