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EUR/USD closes in on key near-term support levels as the dollar takes charge on the day

“The US dollar is the prime mover so far in European trading, leading the way against most major currencies – only sits behind the stubborn NZD. That has seen EUR/USD fall to a low of 1.2331 on the day, breaking the 23.6 retracement level @ 1.2353 which has stemmed previous falls over the last two trading days” reports forexlive.com. Yesterday’s hawkish tone by the Fed also doesn’t do the dollar any harm during the interim. Source: forexlive.com Share This:

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March is done and dusted. What can we look forward to in the EURUSD in April?

“First, looking at the daily chart, the last 54 days of trading (nearly 3 trading months) has seen a 402 pip trading range” reports forexlive.com. There is one final technical point as we head into a new trading month.On Monday (new month), the 100 month MA is expected to fall by about 25 pips to around 1.2493 (give or take).However, the point is on a running month of trading basis, the range will be 238 pips after Monday’s trading. Source: forexlive.com Share This:

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Morgan Stanley sees EUR/USD heading to 1.30 by year-end

“The reasons for that are a rise in global capital demand due to more expansionary US fiscal policy and increasingly strong global economic performance” reports forexlive.com. They see that the booming global economy and rising capital demand would mean the US will face stiffer international competition for capital to finance its deficit. Source: forexlive.com Share This:

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Markets News Stocks 

EUR/USD Forecast Feb. 12-16 2018 – On shaky ground

“After stock markets calm, the common currency has plenty of reasons to rise, but winter is not over yet” writes Yohay’s Google Profile for forexcrunch.com. EUR/USD was under pressure as stock markets tanked and Draghi did not provide a helping hand.The risk-off sentiment is likely to continue, with further volatility and drops in stock markets. Source: forexcrunch.com Share This:

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Wall Street starts to revise EUR/USD calls as initial forecasts fall short

“With EUR/USD at current levels (close to 1.2400), it has likely already exceeded most expectations of most firms – since the forecast data showed that the median forecast for Q4 2018 at the start of this year was 1.2200” reports forexlive.com. Compare that to now, the median forecast is 1.2500. Here are how some of the big boys see the EUR/USD going (do note that some of the forecasts may not have been updated since last year):.  Source: forexlive.com Share This:

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