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EURUSD Daily Forecast: October 09
EURUSD Forecast
The EURUSD attempted to push lower yesterday, bottomed at 1.2936 but closed a little bit higher at 1.2975. The bias is neutral in nearest term but overall as long as moving inside the bullish channel and above 1.2750 the major bullish scenario since bounced from 1.2041 should remain valid. Immediate support is seen around 1.2950/36. A clear break and daily close below that area could trigger further bearish pullback testing 1.2900 – 1.2850 area. Immediate resistance is seen around 1.3050. A clear break and daily close above that area could continue the bullish scenario testing 1.3100 – 1.3170 resistance area. I apologize for making a mistake about MACD in my yesterday’s chart. It should be a weekly, not daily MACD.
2012-10-09 16:02:24
Source: http://www.fxinstructor.com/blog/eurusd-daily-forecast-october-09
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