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31st Oct 2014 EUR/USD Analysis

31st Oct 2014 EUR/USD Analysis

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Spanish Flash CPI year on year fell while quarter on quarter Flash GDP grew as estimated. German unemployment fell by 22,000 as mixed results saw EUR/USD hover around the 1.255 range as support. Failing to trade bullish above 1.263 we will see sub 1.2600 levels as the Dollar regains strength on the hawkish Advance GDP quarter on quarter change, despite a slightly higher than expected Unemployment claims from the previous week.

CPI flash estimates year on year change later during the European session is expected to improve slightly, but resistance at 1.2700 will be the price to watch to see how EUR/USD ends this week.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
 Slight Bearish 1.244 1.2500 1.255 1.2621.2651.2700

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