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EUR/USD Forecast 18 Apr 13



Good day forex traders.

It is almost the end of the week and I hope everyone has a bag full of pips by now!

While the EUR/USD is the most popular currency pair in the world, it’s liquidity comes with a price. It is also very vulnerable to shifts in sentiments. Hence we need to be careful when trading the EUR/USD. An understanding of technical, fundamental and sentimental currents is of crucial importance.

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Looking at the EUR/USD daily chart above, we note the increased volatility. Immediate support will be the 1.3000 region while a bullish momentum will seek to target 1.3200.

As the euro zone comes to terms with the various financially challenged member countries, there is speculation of an interest rate cut. And indeed we did hear comments by officials that seemed to be considering the possibility of one. In fact in a recent comment by one of the officials, the possibility of an interest cut was suggested, henceforth the EUR/USD sell off.

Trade safely.

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