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EUR/USD and GBP/USD Forecast August 29, 2018

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The Euro rallied again during trading on Tuesday but struggled above the 1.17 level. By doing so, we are forming something akin to a shooting star, and it’s likely that we will see some selling pressure into the market. By doing so, I think that we will probably roll over a bit, if for no other reason than to find more value so that we can perhaps continue higher. However, we have definitely outdone ourselves in very short order, so I would not anticipate an ability to continue to extend to the 1.18 level above. If we can break above the 1.18 level, then I think the market could go much higher. However, I think that the next day or so will probably show some signs of weakness that short-term traders will come in and take advantage of. Longer-term though, I think we will find buyers underneath. for more analysis: http://www.dailyforex.com
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Text Comments (1)
Abdulhakim Ali (3 months ago)
Thanks

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