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Bearish Signal on EUR-USD

eur-usd, eurusd, euro, us dollar, forex, free forex ebook, forex ebook

eurusd, euro, us dollar, forex, free forex ebook, forex ebookA lower margin of victory for Angela Merkel in German elections (at her fourth term as German Chancellor) has weakened the Euro. The concern that the growing internal discord in Germany could prevent Chancellor Merkel from continuing to pursue its policy in the Euro-Zone has pushed EUR-USD to the minimum of the last month.

After the FOMC meeting, expectations for the third rise in US rates rose sharply, moving from a 45% probability of a rise in December (Pre-FOMC) to 63% (today). If they were to increase further and in December Janet Yellen raised the rates, this would put an end to the bullish movement of the currency pair begun in January from the low at 1.03390.

eurusd, euro, us dollar, forex, free forex ebook, forex ebook

 

From the graphics point of view, finally, was completed a bearish pattern, a head and shoulder, with EUR-USD that today has broken the neckline (as you can see in the chart above). Possible short-term target area 1.16500 and medium-term target area 1.15000.

 

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