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EURUSD Daily Forecast: November 18

Thursday, November 17, 2016 21:31
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(Before It's News)

EURUSD Forecast    
The EURUSD continued its bearish momentum yesterday broke below 1.0650 and hit 1.0581 earlier today in Asian session. The bias remains bearish in nearest term testing 1.0550 – 1.0450 region. As you can see on my daily chart below, price is now moving near the lower line of the range area, which is a good place to buy with a tight stop loss below 1.0450. Immediate resistance is seen around 1.0650. A clear break back above that area could lead price to neutral zone in nearest term testing 1.0700 region. Overall I remain neutral.

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  • Things have been really unpredictable and the way it’s going, I believe this is what can continue in future as well, so got to be very brave to predict anything. I am always careful with how I go about doing everything because I don’t want to be chasing the market. I keep it all easy with OctaFX broker using their swap free account which is very helpful and saves me from paying unnecessary fees and charges, so it keeps me relaxed.

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