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Forecast on Forex EUR / USD?
What do you think about the EUR / USD exchange rate in the short term? The rate is: 1.3532. Technically, we see a steady upward trend since yesterday ... Last ours, even formed the so-called "white tree soldiers," which is a potential sign of an uptrend. But I'm not big supporter of the "technical analysis" as it only shows the current market position, but the price is driven not by economic graphics. So, speaking of economics, here is the situation on the EUR / USD pair: Euro: The European Central Bank decided to leave interest rates unchanged at 3.75% yesterday, USA: 12:30 U.S. Producer Price Index (MoM) (Mar) now: 0.6% - was: 12:30 U.S. 1.3% Producer Price Index ex Food & Energy (MoM) (Mar), now at 0.2% - was at 0.4% 12:30 USA Trade balance (February), now: $ 60.50B-was : $ 59.12B I think the euro is now overbought as we know from Dow Jones' history repeats itself. " So they sell to reach 20 pips around 1.35. Thanks
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