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EURUSD Daily Forecast: October 31

EURUSD Daily Forecast: October 31
Thursday, October 31st, 2013 @ 5:39 am by Setyo Wibowo

About Setyo Wibowo:

Setyo Wibowo Living in East Java, Indonesia and holding International Relations degree, Setyo Wibowo began his forex trading career by joining Fortune Channel Investment in 2000 as a market analyst, while learning to trade forex independently on his own. Driven by his desire to share his trading experiences and ideas, Setyo joined the FX Instructor team in 2008. Setyo Wibowo is now living in Mojokerto, East Java, Indonesia.

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EURUSD Forecast    

The EURUSD was indecisive yesterday but overall still able to maintain its bearish correction bias. The bias remains bearish in nearest term testing 1.3650 or lower. The major bullish scenario should remain valid and the current short term bearish momentum should be seen as a normal corrective movement. Immediate resistance is seen around 1.3750. A clear break above that area could lead price to neutral zone in nearest term testing 1.3800 which need to be clearly broken to the upside to potentially end the bearish correction phase testing 1.3850 – 1.3935.

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