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EUR/USD Forecast 19 Nov 12

EUR/USD Forecast 19 Nov 12
Sunday, November 18th, 2012 @ 1:36 pm by The Geek

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TheGeekKnows.com  Learn Forex Trading and read exclusive EUR/USD Forecast and AUD/USD Forecast Reviews.

Good day forex traders.

In the previous EUR/USD forecast we noted that the currency pair was experiencing a bearish slide. The fundamental situation was negative due to the ongoing issues of the Euro Zone.

EUR/USD Chart

Technical Analysis

Looking at the EUR/USD daily chart above, we note that the bearish slide remains but it is now facing the immediate support of 1.27. ( red line ) Should this line fail, the next support will probably be the 1.26 line. If you note the two spikes below the bottom red line, this region is the 1.2520 support. Probably an area to look out for too should the bearish slide continues.

Don’t miss the fundamental analysis,

continue on to TheGeekKnows.com for the fundamental analysis of the EUR/USD Forecast Weekly Review to understand more about the underlying market sentiments.

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