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Weekly Forex Forecast - April 15, 2013

Discussion in 'Technical Analysis' started by DailyForex, Apr 15, 2013.

  1. DailyForex

    DailyForex New Member

    Apr 8, 2013
    Likes Received:

    The EUR/USD pair had a positive week over the last five sessions, essentially breaking up to the 1.31 level. The area did provide enough resistance to push prices back, but in the end it looks as if this pair is going to breakout. The Friday candle ended up being a hammer at the 1.31 level, so I believe that higher prices are in the works. However, I think that the top of the bullish move will be somewhere near the 1.3350 level in the near-term. Quite frankly, if it weren’t for the Federal Reserve and its monetary policy – this pair would be somewhere closer to the 1.20 level.

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