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EUR/USD Technical analysis 24 December 2018

2018-12-23 08:56 pm | Resource: Technical Analysis | No Views : 126

Time frame Used - four hours
The EURUSD is moving in a sideway direction in the near term.
EUR/USD CHART
The EURUSD dropped below level of  1.1400 as the selling pressures managed to control movement of the EURUSD to push down to the 1.1355 level
In view of the technical indicators
Both the RSI and the Stochastic are indicating to the lack of signals.
  Therefore, we expect that the EURUSD will retreat to levels of 1.1330-1.1300 again and this scenario fails in case of stability above level of 1.1400.
  The alternative scenario is that the EURUSD broke level of 1.1300 down to test the 1.1269 - 1.1215 levels.
Recommendation
Our view is currently neutral for the EURUSD pair.
The fundamental overview
• On the economic data level, there is no data and a strong impact on the euro area and the US dollar.
Resistance: 1.1400 - 1.1484 - 1.1500
Support: 1.1330 - 1.1300 - 1.1296
Direction: sideway
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