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EURUSD Daily Forecast: October 07

Thursday, October 6, 2016 22:14
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EURUSD Forecast    
The EURUSD had a bearish momentum yesterday bottomed at 1.1139 and slipped below 1.1125 key support as you can see on my H4 chart below. The bias is bearish in nearest term. Price is in critical point. A clear break and consistent movement below 1.1125 would expose 1.1050 – 1.000. Immediate resistance is seen around 1.1150. A clear break back above that area could lead price to neutral zone in nearest term testing 1.1200 or higher. Overall I remain neutral.


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  • EUR/USD is just continuing in it’s merry way with no real movement to talk about and is just working out in similar range and that’s why we need to be careful with long term trades. However, I think it’s ideal time for scalpers to pull their trick and for me, it’s so much easier thanks to OctaFX broker which is with their low spreads from 0.1 pips to high leverage up to 1.500 while there is also smooth trading platform, it’s all super cool.

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