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15.04.2024 06:06 AM
Forecast for EUR/USD on April 15, 2024

EUR/USD

On Friday, the euro fell by over 80 pips and stopped in the target range of 1.0635/56 (the May 2023 low). The price may take a break in this area, as the signal line of the Marlin oscillator on the daily chart has left its own descending channel and may want to return to it.

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However, since there are no technical signs of a reversal, the correction will not last long. After the price falls below the lower boundary of the range at 1.0636, the next target will be 1.0567.

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On the 4-hour chart, there are also no signs of a reversal, indicating a shallow correction. If the price consolidates below the level of 1.0636, it can move towards 1.0567. US retail sales are expected to increase by 0.4% in March. This report may affect the pair's movement.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2024
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