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Good day readers.

In the previous EUR/USD forecast we noted that the currency pair attempted a bullish maneuver. It was however capped by 1.11 as forecasted. From a longer term view of analysis, the EUR/USD remained in a consolidation phase. We should monitor the upper limits of 1.12 and the extended bullish target of 1.14.

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Technical Analysis

Looking at the EUR/USD weekly chart above we note that the currency pair was bullish for the week and as expected testing the 1.14 bullish region. This is a crucial resistance.

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