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EURUSD Trading Analysis with Expected Targets

May 4, 2015 8:51 am

Today uptrend may be ended to near 1.1220. We are expecting that the EURUSD pair will move in downward as correctional movements as per previous bullish movements due to investor’s sentiments to near support level 1.1140 towards 1.1115. FOMC shows that economic growth slowdown due to major fall in energy prices, and if we exclude inflation of foods and energy prices then 1.4% inflation of U.S and Fed target is 2%, but including foods and energy prices and upcoming GDP event if improve than previous values then this event stimulate the market. Today not any high importance event for U.S, but German Manufacturing PMI (Apr) for Europe, if the event data positive then the pair will move to near resistance level 1.1220 towards 1.1249 and if data negative then to near support level 1.1140 towards 1.1115.

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Trading Analysis Chart for EURUSD

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