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EURUSD Daily Forecast: April 07

Thursday, April 6, 2017 18:41
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EURUSD Forecast    
The EURUSD had another indecisive movement yesterday but overall still able to maintain its bearish phase. Price has been moving in a 60 pips trading range since Monday. The bias remains neutral in nearest term probably with a little bearish bias testing 1.0600. A clear break below that area could trigger further bearish pressure testing 1.0550 – 1.0500 region. On the upside, 1.0700 – 1.0750 area remains a key resistance at this phase and a good place to sell with a tight stop loss as a clear break above that area would be a serious threat to the short-term bearish phase. Fundamental focus today will be on the US NFP. Overall I remain neutral.



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