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Technical Forecast for EUR/USD

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Technical Forecast for EUR/USD

 

EURUSD retested Friday’s low at 1.2936 & bounced as hoped to the 1.2995/1.3005 target. If we make it any higher we run in to strong resistance at 1.3053. Exit longs & try shorts with stops  above 1.3090 for an excellent selling opportunity at 1.3115/25.
 
Below 1.3000 risks a slide back to 1.2950/35. This level will not have the strength it had on pre-vious challenges in the last 2 sessions, so any longs here need stops below 1.2925 as a break tar-gets 1.2890/80.

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: News Forex Global Economics Markets

 

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