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Forex Signals for Asian session

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Trade EURUSD in a short range this week and expect movement in down direction

EURUSD down below the level of 1.12 as World-Signals.com forecasts by the last week. This week there are two important events from United States - Durable Orders on Thursday at 13:30 GMT and GDP Second Estimate on Friday at 13:30 GMT. In Europe the first key events start at 8:30 GMT EU Markit Manufacturing PMI, Markit Services PMI and Markit PMI Composite. On Tuesday at 6:00 GMT is Germany GDP, at 9:00 GMT Germany ZEW Survey and Eurogroup meeting in the day. The next key events that we recommend to focus are on Wednesday at 8:00 GMT Germany IFO reports. The key support level for EURUSD is at 1.1143 as World-Signals.com expects to see test of the support level. The chances for break below are about 50%. The trading strategy this week is to trade within the range of 1.1150 and 1.1280. Also you can keep your short positions and may expect breaks below 1.1143. The investors continue to turn to the dollar as is widely expecting Fed to hike the interest rates in June 2016.

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EURUSD to test the levels below 1.12 this week

Last week Euro/Dollar down below the key support level of 1.1330 and the recovery of the dollar will continue. World-Signals.com expected this scenario as for the coming business week the investors probably will continue to buy dollars. The key events that will move the markets are on Wednesday FOMC Minutes at 18:00 GMT and Non-monetary policy's ECB meeting at 7:00 GMT. Also the focus is over Monetary Policy Meeting Accounts on Thursday at 11:30 GMT, Germany PPI on Friday at 6:00 GMT and United States CPI, Core CPI on Tuesday at 13:30 GMT and Industrial Production at 14:15 GMT. The investors will expect new stimulus for the Euro Zone growth. In the technical analysis shows key support levels of 1.1220 and 1.1145. The main resistance level is at 1.1445. World-Signals.com trading strategy this week is to open short positions and expect test the levels below 1.12.

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EURUSD may down to 1.1330 this week and below if break it

Last week on 3rd of May EURUSD reach to the top level of 1.1616 and found strong resistance. In the last few days of the week the dollar recovered to the level of 1.14. World-Signals.com expects to see new recovery of the dollar in the week. In United States the investor focus is over the expecting PPI and Retail Sales on Friday at 13:30 GMT. In Europe the first key event for the week is on Tuesday Germany Trade Balance, Imports, Exports and Current Account at 6:00 GMT. On Thursday the focus is over EU Industrial Production at 9:00 GMT while for Friday the most important events are Germany GDP and CPI at 6:00 GMT and EuroZone GDP at 9:00 GMT. The dollar will continue to recovery as the key support level is at 1.1330. World-Signals.com recommends using this level to sell Euro for levels down to 1.12 or to use 1.1330 to open long positions if not break below.

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