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    Forex News from New Forex: Technical analysis of EUR/USD

    In the trading on Thursday the pair remains within the level of support at 1.1065 and resistance 1.1149. A slight bearish sentiment prevails in the market with attempts to breach the current support level but without luck at the moment.

    Exponential moving averages with periods 20 and 55 days crossed downwards and decline. The MACD moved into the zone below zero, the Stochastic sends a signal to sell. The euro gained some support after the release of yesterday’s minutes by the Fed, the price climbed to 1.1111. However, the market could not stay at this level and pulled back to 1.1065 at the end of the trading session.

    Most market participants are in the anticipation of the results of the ECB Monetary Policy Meeting later today. And the market is eagerly awaiting tomorrow’s data from the USA on unemployment rate and nonfarm payrolls.

    Trading decisions should be based on the above-mentioned macroeconomic data.

    NewForex Analyst

    Michael Butnitsky



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