Daily Forecast - 16 April 2014
EURUSD
EURUSD hit our buying opportunity at 1.3790/85 & bottomed exactly here. Above 1.3815 is more positive for today with a recovery likely. We can then target yesterday's high at 1.3833 before resistance at 1.3850/60. A good chance of a high for the day here but don't rule out a break higher to fill the gap at 1.3880 for a selling opportunity. Exit longs & try shorts with stops above 1.3910.
Failure to beat 1.3815 could see a drift lower to a buying opportunity at 1.3790/85 once again. Try longs with stops below 1.3770 but be aware there is a good chance of a low for the day at 1.3760.
The contents of our reports are intended to be understood by professional users who are fully aware of the inherent risks in Forex, Futures, Options, Stocks and Bonds trading. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE AND IS PROVIDED FOR INFORMATION AND EDUCATION PURPOSES ONLY.
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