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EUR/USD forecast for the week of April 24, 2017, Technical Analysis

By:
Christopher Lewis
Updated: Apr 22, 2017, 04:30 UTC

The EUR/USD pair rally during the week, and even broke above the 1.0750 level. However, we turned around and gave back quite a bit of the gains. I think

EUR/USD weekly chart, April 24, 2017

The EUR/USD pair rally during the week, and even broke above the 1.0750 level. However, we turned around and gave back quite a bit of the gains. I think we are going to grind in an upward direction but we may pull back in the short term. Quite frankly, this is a market that is far too tight to trade from a longer-term perspective, so therefore I don’t have any interest in placing a trade based upon the weekly chart. However, I would say that we broke above the shooting star from the previous week, which shows a significant amount of bullish pressure.

EUR USD Forecast Video 24.4.17

About the Author

Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.

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