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EUR/USD Trading Analysis with Forecast for 17 September 2014

September 17, 2014 12:21 pm

Yesterday EUR//USD currency pair was moved upward due to dollar weakness, even euro weak as German Economic events but move upward. Both fundamental and technical basis this pair movements was predicted that downward near support level 1.2896, but move in uptrend near resistance level 1.2995 because dollar fell on bets the Federal Reserve won’t be in a hurry to raise rates.

Forex Fundamental and Technical Analysis:

Today we are expecting that this pair will move downtrend near support level range 1.2885 accurately, because yesterday the Standard & Poor’s 500 Index rose 0.8 percent that is biggest gain in a month and U.S. crude surged 2.1 percent. The Stoxx Europe 600 dropped 0.3 percent, so today downward movements are expected.

Note: Today FOMC Statement is very important, so as per FOMC forecast may be Fed increase interest rate and dollar fully strong.

Recommended Forecast:

Today we are predicted that this pair will move downward Daily support level range 1.2885, so sell is best. Remember if any trader want to get maximum benefits from our analysis then join our premium panel by contact us at Skype: DailyFXGuide. Check our Free Signals Session.

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