EUR/USD Daily Forecast – 14 April

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Wednesday, Apr 13 2016

Euro spent most of the yesterday's session in a decline breaking below 1.13 handle, for the first time in few weeks, what is a bearish signal. As for Thursday, we can expect some amount of support around 1.1220 level, at least initially and resistance at 1.1330 and above 1.1360 level in extension, so this is where we would consider placing short-term selling bids.

In long-term trends, despite this decline, we have no interest in selling the pair as there is plenty of support all the way to 1.1050 handle. We would use this pullback as a buying opportunity, since we believe that pair will go all the way to 1.15 handle given enough time.

More in this category: « GBP/USD Daily Forecast – 14 April AUD/USD Daily Forecast – 15 April »

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