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EUR/USD Forms Doji Candlestick Pattern on Mixed Data

April 1, 2010 by Andriy Moraru

EUR/USD was trading both above and below the open level today as the incoming macroeconomic data was quite mixed. The pair is heading for the close near its open level, forming a Doji candlestick pattern on the chart. It’s currently trading near 1.3508.

Initial jobless claims decreased from 445k to 439k last week in U.S. That’s even better than the average forecast of 440k.

ISM PMI indicator (manufacturing sector survey) rose from 56.5% to 59.6% in March, while only a slight gain to 57.0% was expected.

Total construction spending declined by 1.3% in February, following 1.4% drop in January. That’s was a bad surprise for the dollar bulls as they expected only a 1% drop. This indicator is still signaling that the real estate market is seeking its bottom.

If you have any comments on the recent EUR/USD action, please, reply using the form below.

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