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EURUSD Daily Forecast: August 27
EURUSD Forecast
The EURUSD bullish momentum was paused on Friday closed at 1.2509. The bias is neutral in nearest term but as long as stays inside the bullish channel price is still in a bullish correction phase. Immediate support is seen around 1.2485 followed by 1.2440. A clear break below 1.2440 could trigger further bearish pressure testing the lower line of the bullish channel and 1.2400 – 1.2350 support area. Immediate resistance is seen around 1.2540. A clear break above that area would keep the bullish intraday bias remains strong testing 1.2600 – 1.2625 resistance area.
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2012-08-27 01:04:49
Source: http://www.fxinstructor.com/blog/eurusd-daily-forecast-august-27-3
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