Euro rebounds strongly, precise forex forecast, 120 pips

Strong rebound on EURUSD from 3700 low, supported by Fed’s Beige Book and a positive opening on Wall Street, reached our anticipated target of 3980. Our short signal read "SHORT @ 3870, SL 3900, TP1 3850, TP2 3830, TP3 3810." and as we stated in our forex forecast "A confirmation above 3900, however, is likely to bring more bulls into the market with targets of 3935, 3980 & 4000." 40 pips profit on the short position and 80 pips on the long one.

 

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