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EURUSD FORECAST FOR THE WEEK OF APRIL 30-MAY 4, 2012

EURUSD’S rise from 1.2994 continues to unfold with risk for further upside extension into the days ahead targeting 1.3279, 1.3366 and 1.3455 while 1.3134 limits the downside. A daily open and lower close below 1.31384 will turn the nearterm outlook to neutral.  For the week ahead look for EURUSD bids within the 1.3138-1.3164 zone to support further rise targeting 1.3278, 1.3366 and 1.3455 in the days ahead. As to the downside, a daily open and lower close below 1.3138 will favor further downside extension targeting 1.3104, 1.3062 and 1.2994.

  • Posted by adminfx
  • On April 29, 2012
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