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| EUR/USD h4 chart, source:forexfactory.com |
From Apr. 25 Euro advanced but it seems to swing. It reached 1.16 level but fell down now. It doesn't show a meaningful pattern such as a Head-and-Shoulder pattern. The H-S pattern may be discovered but it's not explicit.
It seems that it doesn't shrink but doesn't turn its direction. It will sidle along in the narrow channel, bandwidth from 1.1350 to 1.1450 for a while, I think.
The worldwide recession gives no explicit signal to traders. Market-participants agree the strong US dollar and Japanese Yen, but do they decide the direction of Euro?
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