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EURUSD Daily Forecast: April 06

Wednesday, April 5, 2017 18:57
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EURUSD Forecast    
The EURUSD had another indecisive movement yesterday. The bias remains neutral in nearest term. Price has been moving sideways between 1.0635 – 1.0700 range area as you can see on my H1 chart below suggests a consolidation phase. That said, price is still in a bearish short-term trend after formed a “shooting star” formation on daily chart last week and broke below the trend line support as you can see on my H1 chart below, targeting 1.0600 region. Immediate resistance is seen around 1.0700. A clear break above that area could trigger further bullish pressure but only a clear break and daily close above 1.0750 would end the current bearish short-term bias. Fundamental focus will be on the US NFP on Friday. Overall I remain neutral.



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