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Forex Market Outlook by Bulls Capital Markets

Posted on May 5, 2015 13:36

EURUSD Trending down

URUSD extends lower on two-day corrective pullback from 1.12596, with fresh extension below initial 1.1173 support, being initially contained by daily Ichimoku cloud base at 1.1121.

USDJPY Support Breakup 

The pair trades in near-term consolidative phase under yesterday’s fresh high at 120.27, with 1.20 zone, previous pivotal barrier, also daily Ichimoku cloud top, keeping the downside protected for now. Hourly neutral tone favors further sideways trading, while 4-hour studies maintain bullish setup and see scope for further ascend, after 120 breakpoint was taken out. 

Monday, 25 May, 2015 / 11:57

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