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Weekly Forex Forecast (August 20 - 24, 2018)
The EURUSD continued its bounce into the weekend following a relatively bullish Wednesday candle. I’ve mentioned the 1.1300 support area a few times in the last two weeks including August 9th and again last week. That 1.1300 area was also the target for my short from the 1.1600 area. It just so happens that Wednesday’s low was exactly 1.1300, so to say it worked out nicely would be an understatement. For now, I’m on the sideline after booking profits. While you could have bought the single currency from 1.1300, the trend is still very much bearish. That’s particularly true given the August 10th close below ... (full story)