EUR/USD Daily Forecast - 18 April

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Wednesday, Apr 18 2018

EUR/USD Daily Forecast - 18 April

The EUR/USD pair initially tried to rally during the session on Tuesday but found the 1.24 level to be a bit too resistive to continue going higher. Because of this, we pulled back towards the 1.2350 level, an area that has been important more than once. Ultimately, I believe that this market should find buyers sooner rather than later, but I also recognize that it could be sloppy trading in the short term.

According to fxempire.com, uptrend line underneath as a potential buying opportunity as well, so although it’s been negative during the day on Tuesday, I still think that we will find buyers eventually. I don’t have any interest in shorting this market, least not until we break down below that important uptrend line.

More in this category: « AUD/USD Daily Forecast - 17 April GBP/USD Daily Forecast - 19 April »

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