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EURUSD Forecast and Harmonic Overview

EURUSD Forecast and Harmonic Overview

We have reached our third target at 1.12700.

The ECB will publish its Private Sector Loans and M3 Money Supply later in the morning.

On the US side, Q3 GDP and New Home Sales figures will be on focus.

Persistent uncertainty and lack of serious progress around the Brexit negotiations continue to weigh on global sentiment as well as Italian politics, where the 2019 budget still remains in the centre of the debate.

US 10Y Yields reversed and started to recover.

Technically, break below 1.12700 will carry the pair 1.12400. A minor retracement can be seen at 1.12400 towards 1.13000 hurdle.

The traders who like to try long for a minor retracement can take the trade as : LONG ENTRY: 1.12450 – 1.12350 target 1.12750 1.13100 stop 1.12000 ( Trade is based on Bullish Bat Harmonic Pattern )

We keep our beraish bias midterm targeting 1.11800 , 1.10200 and 1.08800

 

 

 

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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money

EURUSD Forecast:  Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

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