Yoobbie
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Weekly Forex Forecast (April 15 - 19, 2019)
After hovering below the March 2018 trend line for a few days last week, the EURUSD broke out on Friday. But we’ve been here before. Euro bulls broke this same trend line on March 20th yet failed to hold onto it as new support. By March 22nd, EURUSD was back below it on a daily closing basis. We’ll see if this time is different. For that to be the case, buyers need to step in at 1.1270 this week. If they can do that, the EURUSD could be on its way to retest the short-term resistance at 1.1420. Alternatively, a daily close back below the 1.1270 region would expose the 1.1180/90 horizontal support area. When ... (full story)