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EUR/USD and GBP/USD Forecast May 24, 2018

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The Euro fell significantly during trading again on Wednesday, as we have broken below the 1.17 handle. Quite frankly, this move has been much quicker than I anticipated, and it appears that the situation with the Italian bond markets are starting to scare a lot of investors. Add to that that the five-star movement has formed a bit of a coalition government in Italy, and we are starting to see the next potential European Union crisis form itself. Rallies at this point are to be sold obviously, and I think that we are going to go to the 1.1550 level in the short term, wiping out the entirety of the move from late last year. At this point, it’s very difficult to imagine buying this pair, unless of course we were to form some type of weekly candle showing strength. Higher interest rates in the United States will continue to push this pair lower as well. for more analysis: http://www.dailyforex.com
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Text Comments (2)
David Pumpkini (3 months ago)
My base currency is GBP and I need to reload a USD prepaid card for travelling. Do you think I should wait a few days or weeks to get most amount of USD?
Sean Papazian (3 months ago)
Subscribed. I like your quick analysis reports. Will be watching daily!

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