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The Euro refuses to budge too far from the recently struck 4-month low, and is finding it difficult to break through technical resistance.
OECD warns risk of severe recession in eurozone rising as it cuts economic forecasts.
EUR/USD Classical Technical Report 05.22
NZD/USD Classical Technical Report 05.22
On Monday Euro/Dollar traded within 100 pip range. The European currency appreciated from 1.2724 to 1.2824 yesterday, not matching the negative money flow sentiment at under -10%, closing the day at 1.2814. This morning the Euro is trading quietly, and within yesterday’s range for now
The EUR/USD has entered a period of consolidation. In consolidation, A simple idea is to anticipate downswings from resistance levels and overbought conditions, as well as buy from support levels with oversold conditions.
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The Foreign Exchange market, also referred to as the "Forex" or "FX" market, is the largest financial market in the world, with a daily average turnover larger than the combined volume of all U.S. equity markets.
"Foreign Exchange" is the simultaneous buying of one currency and selling of another. Currencies are traded in pairs, for example Euro/US Dollar (EUR/USD) or US Dollar/Japanese Yen (USD/JPY).
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