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EUR/USD Forecast 25 Oct 12

 

Good day forex traders.

 

It is almost the end of the trading week and i hope everyone is green with pips. I took a quick 10 pips earlier on the bounce off 1.3. However inclusive of the previous loss, i am still in the red. But hey no worries here. Slow and steady is the way to go for forex 🙂

I hope everyone is noticing the mini updates of the AUD/USD and EUR/USD appearing intra day. This is part of my effort to provide more updates as possible. Tell me how you feel ok?

 

EURUSD Forecast

Solution : ProRealTime

 

Looking at the EUR/USD 4 hourly chart above we note that the 1.3 test failed and the currency pair has eased off. There is a bearish trend line as seen above functioning as an immediate resistance. If the bearish momentum continues, we may hit the immediate bearish target of 1.29.

While equities are mostly green for Europe and US, the currency pair remanis mulled. We are not seeing any fundamental breakthrough with regards to a solution for the Euro Zone budget deficit crisis and hence investors may be having a wait and see approach. Spain is definitely in a delicate situation and things could go either ways.

 

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